Keeping LISA, SIPP and ISA with the same broker

mugston

Does anybody keep all tax sheltered accounts with the same broker to minimise fees?

If the broker has a maximum yearly fee, and it is across all accounts, it could make sense for investors who's total holdings are large enough, but separate accounts are not.

However, I know the main 3 mentioned here (DODL, AJbell and HL) all have maximum fee per account, and don't have a maximum across all accounts.

Albermarle

HL and AJ Bell charge 0.45% and 0.25% and have no maximum as far as I know.
Except on ETFs/ITs and shares where the following limits apply.
HL ISA  £45 : Sipp £200
AJB ISA £42 ; Sipp £120
Fidelity has a platform cap of £90 for the same type of investments.

These limits do not apply to investments in OEIC funds, which are the most common. 

boingy

Vanguard have a maximum across all accounts but, to answer your question, no, my SIPP and S&S ISA are at different providers.

Alexland

I have found the lowest cost combination for my long term accounts is a £42pa capped LISA from AJ Bell and a £90 capped SIPP from Fidelity both invested in similar developed world tracker ETFs. Both accounts are fairly inactive so trade costs are rare/low. Sometimes Fidelity offer very generous cashback deals that can cover their fees for a decade or so depending on the value transferring.
On the S&S ISA then I generally go for cashback deals where they pay me more than the account would cost over the initial period so every year I transfer elsewhere.

masonic

My preference has been to keep accounts separate as it diversifies against provider issues and opting for the cheapest for each account type tends to be competitive with going with a best single provider.

That said, I am bringing a S&S ISA and SIPP together at HL for about 10x its annual platform fee and only need to stick around for a year.

Alexland

I don't dare transfer my SIPP for cashback incentives anymore as the possibility of protected age 55 access is too valuable to risk.

mugston

Alexland said:

I have found the lowest cost combination for my long term accounts is a £42pa capped LISA from AJ Bell and a £90 capped SIPP from Fidelity both invested in similar developed world tracker ETFs. Both accounts are fairly inactive so trade costs are rare/low. Sometimes Fidelity offer very generous cashback deals that can cover their fees for a decade or so depending on the value transferring.
On the S&S ISA then I generally go for cashback deals where they pay me more than the account would cost over the initial period so every year I transfer elsewhere.

Is there a good place to keep track of these cashback deals?

Thanks.

masonic

Alexland said:

I don't dare transfer my SIPP for cashback incentives anymore as the possibility of protected age 55 access is too valuable to risk.

I suppose that is one of the benefits of me prioritising my S&S ISA earlier in life. Pensions are catching up, but at present my assets are distributed almost 50:50 between the two and I could cover the extra (expected) 5 years without issue. An extra few years to utilise my personal allowance and get some more out of pension tax free would have been nice, but I wasn't able to get clarity about whether or not I had a protected retirement age in my SIPP started about 6 years ago to receive the contents of my horribly expensive (then) workplace scheme where I would have paid about 20% extra in fees over its lifetime had I left alone.

Albermarle

mugston said:

Alexland said:

I have found the lowest cost combination for my long term accounts is a £42pa capped LISA from AJ Bell and a £90 capped SIPP from Fidelity both invested in similar developed world tracker ETFs. Both accounts are fairly inactive so trade costs are rare/low. Sometimes Fidelity offer very generous cashback deals that can cover their fees for a decade or so depending on the value transferring.
On the S&S ISA then I generally go for cashback deals where they pay me more than the account would cost over the initial period so every year I transfer elsewhere.

Is there a good place to keep track of these cashback deals?

Thanks.

Not really. They are sometimes mentioned on this and the pensions forum. Often they will last for 3 months and then be repeated once a year.
However only  certain providers seem to offer any significant ones.
Hargreaves Lansdown
Fidelity
Interactive Investor
Nutmeg
Close Brothers
+ others

Make sure you read the T's and C's carefully. Often you have to actively sign up to the offer.
Some you have to claim via a cashback site, or wait a few months .With all of them you have to stay with the new provider at least 12 to 18 months.
There is usually a minimum amount ( £25K or £50K ?) 

Alexland

masonic said:

Alexland said:

I don't dare transfer my SIPP for cashback incentives anymore as the possibility of protected age 55 access is too valuable to risk.

I suppose that is one of the benefits of me prioritising my S&S ISA earlier in life. Pensions are catching up, but at present my assets are distributed almost 50:50 between the two and I could cover the extra (expected) 5 years without issue. An extra few years to utilise my personal allowance and get some more out of pension tax free would have been nice, but I wasn't able to get clarity about whether or not I had a protected retirement age in my SIPP started about 6 years ago to receive the contents of my horribly expensive (then) workplace scheme where I would have paid about 20% extra in fees over its lifetime had I left alone.

My ISAs were depleted several times by property transactions most recently with the buyout of my ex-wife's share of the family home so around 90% of my S&S assets are now in pensions (even after the pension sharing happened) and my fate is very much dependant on if that protected early access age happens on the Fidelity scheme. Having said that my dad is looking to do a deed of variation to my mum's will as he doesn't need the money so the balance might improve and age 50 might be back on the cards. I like the idea of adding money into S&S ISAs for before pension access age but then the advantages of feeding the LISA and workplace pension are too tempting...