Moving a SIPP from A J Bell to Minerva

pg1947

I would appreciate advice on the feasibility  of transferring my current SIPP with A J Bell to a Minerva SIPP where the fees are smaller and I do not need to go through a financial advisor which costs me £250 + VAT each time I renew the bonds . My investments comprise fixed rate bonds only and currently there are two - with United Trust Bank and Teachers Building Society who both confirm a transfer should be no problem.

 The Minerva SIPP uses Metro Bank , and although it has the FSCS protection are there any drawbacks to it? The flat fee for Minerva is £400 + VAT per annum, are there any other SIPP providers I should consider? I looked at Interactive Investor but the don't seem to do cash / bond investments. Would the transfer from A J Bell have any likely drawbacks?

Albermarle

Most mainstream retail ( direct to consumer) SIPP providers do not have the facility to hold third party savings accounts within the SIPP. 

From your post I sounds like your SIPP with A J Bell is via a financial advisor, so it may be a more specialist offering compared to what they mainly are known for.