Help choosing a SIPP provider.

Sam3007

Hi there,
I have a company pension with Aviva (£1500) through employment long time ago and A J bell LISA with £13000.
i want to open a SIPP account.
my questions are:
1- what is the best provider say my pot will be between 50 to 100 K in the coming ten year using one word index fund?
2- is it advisable to open my SIPP with same provide A J bell?
3- will it easy to move my aviva pot to my new SIPP account ?
Thanks 

MallyGirl

for smaller amounts you are better off using a provider whose fees are based on a percentage of the value of the pot. Later you might build up enough to make it worth moving to one with fixed fees.
No need to keep LISA and SIPP with same provider - although it might be cheaper to do so.
It should be easy to move the Aviva pot as long as it doesn't have any protected benefits.

Comparison tables start about halfway down:

Find the best & cheapest SIPP in 2024 (moneytothemasses.com)

Sam3007

MallyGirl said:

for smaller amounts you are better off using a provider whose fees are based on a percentage of the value of the pot. Later you might build up enough to make it worth moving to one with fixed fees.
No need to keep LISA and SIPP with same provider - although it might be cheaper to do so.
It should be easy to move the Aviva pot as long as it doesn't have any protected benefits.

Comparison tables start about halfway down:

Find the best & cheapest SIPP in 2024 (moneytothemasses.com)

Thanks. It seems A j bell fees would be cheaper then Platform fee: 0%-0.25% (funds) 
Compared to Hargreaves Lansdown

0.1%-0.45% (funds) 
if I go with A J bell, do I get the FSCS protection of £85,000 twice for each of the SIPP and LISA?

jaybeetoo

Since I moved to HL at the start of the year, I’ve experienced terrible customer service and their IT systems are not the best (inflexible).  I wouldn’t recommend them.

I moved from ii.  They were not without problems with their systems often unavailable at weekends.  The transfer from ii was painful and I ended up receiving compensation after the appalling transfer service.

Maybe all SIPP and ISA providers are poor? 

I can only assume established providers are trying to cut costs faced with competition from new entrants and customer service is suffering as a consequence.

Rich1976

Sam3007 said:

MallyGirl said:

for smaller amounts you are better off using a provider whose fees are based on a percentage of the value of the pot. Later you might build up enough to make it worth moving to one with fixed fees.
No need to keep LISA and SIPP with same provider - although it might be cheaper to do so.
It should be easy to move the Aviva pot as long as it doesn't have any protected benefits.

Comparison tables start about halfway down:

Find the best & cheapest SIPP in 2024 (moneytothemasses.com)

Thanks. It seems A j bell fees would be cheaper then Platform fee: 0%-0.25% (funds) 
Compared to Hargreaves Lansdown

0.1%-0.45% (funds) 
if I go with A J bell, do I get the FSCS protection of £85,000 twice for each of the SIPP and LISA?

I’ve been with HL for years and never had any major issues with them. The App is perfectly user friendly as is their website. On the rare occasion I’ve had to send a message to Customer Services,  they have responded usually by end of the next day and seem to be very quick in answering the phone and have been thoroughly professional.

the platform fees for AJ Bell are cheaper but you need to remember you have to pay £1.50 each time you invest, so if it’s £100 a month that equals to 1.5% so depending how much you are investing could work out very expensive.

MX5huggy

Sam3007 said:

MallyGirl said:

for smaller amounts you are better off using a provider whose fees are based on a percentage of the value of the pot. Later you might build up enough to make it worth moving to one with fixed fees.
No need to keep LISA and SIPP with same provider - although it might be cheaper to do so.
It should be easy to move the Aviva pot as long as it doesn't have any protected benefits.

Comparison tables start about halfway down:

Find the best & cheapest SIPP in 2024 (moneytothemasses.com)

Thanks. It seems A j bell fees would be cheaper then Platform fee: 0%-0.25% (funds) 
Compared to Hargreaves Lansdown

0.1%-0.45% (funds) 
if I go with A J bell, do I get the FSCS protection of £85,000 twice for each of the SIPP and LISA?

No you don’t get double protection. FSCS. FSCS protection is always a limited to £85k per institution. But it’s not relevant for invested SIPP or LISA (presumably you don’t have large cash holdings in them). Because if say AJBell went bust you would still own the assets in the SIPP (the shares or units of whatever funds you choose). No one ever recommends splitting a £850k SIPP across 10 providers. 

Albermarle

jaybeetoo said:

Since I moved to HL at the start of the year, I’ve experienced terrible customer service and their IT systems are not the best (inflexible).  I wouldn’t recommend them.

I moved from ii.  They were not without problems with their systems often unavailable at weekends.  The transfer from ii was painful and I ended up receiving compensation after the appalling transfer service.

Maybe all SIPP and ISA providers are poor? 

I can only assume established providers are trying to cut costs faced with competition from new entrants and customer service is suffering as a consequence.

I am a relatively new user of HL ( mainly due to cashback offers). So far I can only say the service has been difficult to criticise. Including two transfers in and withdrawal of a small pot pension.

Albermarle

MallyGirl said:

for smaller amounts you are better off using a provider whose fees are based on a percentage of the value of the pot. Later you might build up enough to make it worth moving to one with fixed fees.
No need to keep LISA and SIPP with same provider - although it might be cheaper to do so.
It should be easy to move the Aviva pot as long as it doesn't have any protected benefits.

Comparison tables start about halfway down:

Find the best & cheapest SIPP in 2024 (moneytothemasses.com)

As well as the link above you can also look on MSE !
Best SIPP: Build a low cost DIY pension - MoneySavingExpert

Ciprico

I moved ISA and Sipp to HL and all went smoothly. Need to watch their fees though. ETFs and ITs are cheap to hold, other funds maybe not so....

I do miss the free regular purchases offered by II...

sevenhills

Ciprico said:

I moved ISA and Sipp to HL and all went smoothly. Need to watch their fees though. ETFs and ITs are cheap to hold, other funds maybe not so....

I do miss the free regular purchases offered by II...

No problems with HL here, loving the £100 free trading until mid-June.