Keeping LISA, SIPP and ISA with the same broker
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mugston
Posts: 44 Forumite
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.
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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.0 -
Vanguard have a maximum across all accounts but, to answer your question, no, my SIPP and S&S ISA are at different providers.0
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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.
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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.0
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I don't dare transfer my SIPP for cashback incentives anymore as the possibility of protected age 55 access is too valuable to risk.0
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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.
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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.
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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.
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 ?)0
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