Cheapest SIPP (High Value) for Platform Fees

BigBlueSky

I'm currently with Interactive Investor.  I signed up through their 'Refer a friend' promotion where I have had all platform fees waived for 12 months.  It has saved me hundreds of pounds but that will be coming to an end in a few months time.

Does anyone know which platform would work out the lowest cost for a SIPP portfolio currently worth around £400,000 ?

I've heard that Trading212 might be bringing one out with zero platform fees but until they do does anyone know of any alternatives ?

Thanks in advance

Mark_d

I'd go with iWeb

leosayer

The pricing depends on many factors such as which assets you hold, how much you hold in each, how often you trade them, what type of account, how often you withdraw etc etc.

See below for a list:

https://monevator.com/compare-uk-cheapest-online-brokers/

BigBlueSky

Thanks for the replies.

I'm primarily invested in the Vanguard Lifestrategy 100% Equity Acc fund.  Although I'm in others too, but probably going to reduce the number of different funds I hold.

I very rarely trade them these days - Occasionally I will add another contribution (maybe once per year), but with it being a SIPP, no withdrawals - I'm about 20 years off retirement.

BigBlueSky

Mark_d said:

I'd go with iWeb

Thanks.  iWeb seems to be more expensive than Interactive Investor (after my free period).  Interactive Investor is capped at £155.88 for the SIPP, whereas iWeb is capped at £180.00

dunstonh

I'm primarily invested in the Vanguard Lifestrategy 100% Equity Acc fund. 

Seeing as you are charges focused, what has made you pick that managed growth rund rather than a lower cost global tracker?

BigBlueSky

dunstonh said:

I'm primarily invested in the Vanguard Lifestrategy 100% Equity Acc fund. 

Seeing as you are charges focused, what has made you pick that managed growth rund rather than a lower cost global tracker?

To be honest I've bought many different funds over the years - Mainly when I first started my SIPP 20 years ago.  Most of the funds I still have but more recently the bulk of my new investments have been into this fund.

I'm certainly no expert but I always beliieved it to be a low cost fund that could be 'left to it'.

Pat38493

Last time I looked at this topic, it seemed like Interactive Investor were hard to beat on charges for a SIPP only portfolio of more than about £100K (even after the free charging period is finished),  but I don't know much about Iweb.  Probably depends also on how many transactions you will do per month/year. 

I already saved a lot of money by transferring most of my pension from a % charge based platform to a fixed fee one.

BigBlueSky

I'm wondering whether to move over to something such as the "Vanguard FTSE All-World UCITS ETF (VWRP)".  Although the fees seem to be the same as the LifeStrategy (0.22% OCF), although I could invest these with platforms that don't charge fees - such as Trading212.

granta

I've recently come across Freetrade who have a SIPP at £11.99 per month, though they don't offer funds, only ETFs, stocks, ITs etc

Albermarle

BigBlueSky said:

I'm wondering whether to move over to something such as the "Vanguard FTSE All-World UCITS ETF (VWRP)".  Although the fees seem to be the same as the LifeStrategy (0.22% OCF), although I could invest these with platforms that don't charge fees - such as Trading212.

You have to wonder at the long term viability of a platform that does not charge anything.
Nothing negative to say about Trading 212 specifically , but I would guess most likely fees will be introduced gradually at some point, and/or they will be sold.
I understand they also offer high risk CFD trading, which they presumably hope they can tempt more customers over from the investment platform side.