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Cheapest SIPP (High Value) for Platform Fees
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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.
The Lifestrategy fund is geared to UK investors and invests 25% in UK stocks and 50% in the US.
That's probably the biggest difference between them. Which you prefer is probably down to your attitude towards growth, bubbles and US tech stocks.0 -
Why would you want the cheapest and not consider quality of platform, information, access to help if required.0
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NlghtOwl said:Why would you want the cheapest and not consider quality of platform, information, access to help if required.1
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Platform fees are one part of the mix, so it seems agreed on here that for high value choose a fixed fee platform, whereas for low value, percentage fees work out as less actual £.Then there are fund fees. Depending on what you want in the SIPP they can range from low to high (say 0.1 - 2%). Even with trackers, the fund OCF's vary somewhat, as do the tracking errors, so there probably isn't a single "cheapest" suitable for every investor.0
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Some can be cheaper if you hold the same funds as ETF rather than the funds themselves but is it worth it too save £100 per year. There are a few rumblings about Trading 212 regulation being via passport and it potentially being simply more involved if things go wrong. I do have some freeshare as it was only £120 for a year and there was some sort of offer!I think....1
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BigBlueSky said:NlghtOwl said:Why would you want the cheapest and not consider quality of platform, information, access to help if required.
One of my pensions is an ex employer one with Scottish Widows. I keep it due to the very large employer negotiated low fees, which I still enjoy. However it is a very clunky website, and when I have asked a question they take ages to reply.
If I want to withdraw from it, I would transfer it first to one of my other pensions, where the providers are more responsive and the websites better, although I would be paying higher fees.1 -
BigBlueSky said:Mark_d said:I'd go with iWeb0
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michaels said:Some can be cheaper if you hold the same funds as ETF rather than the funds themselves but is it worth it too save £100 per year. There are a few rumblings about Trading 212 regulation being via passport and it potentially being simply more involved if things go wrong. I do have some freeshare as it was only £120 for a year and there was some sort of offer!1
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If you don't trade much (as trade fees are higher). Fidelity with an ETF portfolio - is capped at £90 annual platform fee. 3000 funds. But only 419 ETFs but enough for most if not fussy about an exact example. 20 HSBC 176 iShares, 33 Vanguard gives some version of most things you might want.
Watch though for % of pot for funds. 0.2%/£2000 capped which is less attractive.
Trades are more expensive. A large portfolio dumped in VEVE/VHVG or whatever you like - would cost £90, the trade cost in. And the standard price for the ETF i.e. 0.12%.
Cashback offer until october. £750 at 250k £1000 at 500k. £1500 at 750k account outside pension used for platform and trade costs.
250k plus portfolios get an "account manager" (a vague and highly leveraged tilt towards wealth managemet ideas. Doesn't DO anything important. But there is a name and contact info and they can at least be tasked with solving "what part of the organisation can solve my issue and do X for me and which channel can I do it on". Better than a random call centre experience. Not meaningfully useful. i.e. much the same as ALL such "wealth managing" for the mass affluent offer where genuinely personal service evaporates in an orgy of operational planning cost cutting. Abdrn/ii will face the same problem with any ambitions they have in that direction to combine upselling/cross selling with assets under management from being "cheap".
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We are getting into the 'season' where a lot of SIPP providers have in previous years offered cashback on transfers. II, HL and CS Direct are examples. II in particular can be a low cost option for a larger portfolio, without the need to stick to ETFs.
Obviously no certainty that this will repeat itself this year, but if it was me and I was looking for an incentive... I'd probably sit tight for a month or so.
ETA... ah I see the OP is already with II. Well, HL is probably my next favourite, if in ETFs, because they pay out cash back from their offers very quickly!0
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