advice on regular payments into a SIPP please

sadexpunk

incus432 said:

Had a quick look at II - seems as though it has a flat fee for the SIPP of 12.99 pcm above 50k so £157 pa and low dealing charges (3.99) so very reasonable.  I use ETFs because AJBell cap the charges at 120 pa (SIPP), and 42 pa (ISA) unlike for OEICs

as i understand it, i dont think id get charged for investing each month with II.  im maybe misunderstanding something, but ill double-check before going ahead.

LHW99

incus432 said:

Had a quick look at II - seems as though it has a flat fee for the SIPP of 12.99 pcm above 50k so £157 pa and low dealing charges (3.99) so very reasonable.  I use ETFs because AJBell cap the charges at 120 pa (SIPP), and 42 pa (ISA) unlike for OEICs

If you have an ISA and a SIPP with II, you should get one free trade per month. Costs are a bit more though, so it depends how often you need to trade. Regular monthly investing is free on all the plans.

The full set of II plans / costs are here:

https://media-prod.ii.co.uk/s3fs-public/pdfs/ii-Rates-and-Charges-Dec2024.pdf

incus432

I think you need to look again carefully at the ii charges, It does look like a 12.99 a month whatever else you do, although there seems to be a 6m free offer on.   Also a gentle suggestion - you should re-read through all the earlier hints and answers you got in this thread -  we are definitely repeating ourselves re ETFs and funds and other matters. 

 Was there a cashback offer with ii?   If so you are probably committed to them for a set period. If not Fidelity have a 1k cashback for pots over 100k until april. You'd definitely have to be in ETFs to make this worthwhile though. 

In answer to your earlier Q- I see no real advantages for funds (OEICs) over ETFs

MallyGirl

Regular investing with II is free. That has been confirmed before. You tell them what to do - £25 of this, £25 of that and they do it. The penalty for free regular investing is that there is a lag between the money arriving at II (via direct debit) and the purchase being made as they use fixed dates.

you also get a free trade each month. If you don't use it the free one is carried forward for a couple of months before it expires so you may already have amassed a second one while you struggle to press the button. 

sadexpunk

incus432 said:

Also a gentle suggestion - you should re-read through all the earlier hints and answers you got in this thread -  we are definitely repeating ourselves re ETFs and funds and other matters. 

 Was there a cashback offer with ii?   If so you are probably committed to them for a set period. If not Fidelity have a 1k cashback for pots over 100k until april. You'd definitely have to be in ETFs to make this worthwhile though. 

In answer to your earlier Q- I see no real advantages for funds (OEICs) over ETFs

yep, i think im just reading too much, and getting confused over OEICs and ETFs when theres probably not much difference to me in reality.  ive just re-read the whole thread as you suggested but i still dont really get it.  i think i just need to jump in and inform II on what to invest in, set up the DD then forget about it

just one quick question please...... on an earlier page it was suggested that VWRL, HMWO or FTWG might be reasonable exchange traded funds to look at, so i put them into II 'search' and found them.
whenever i do a search on II i see the different options, acc or inc, of which i want to choose the acc version.
however, theres nothing to suggest if anything is OEIC or ETF.  is it possible to make a mistake when choosing, and end up with an OEIC when i wanted an ETF for instance?

ive set myself til the end of today to have chosen SOMETHING! too much procrastination

thank you

EDIT:  forgot the cashback question.  yes there was a £250 cashback offer which theyve paid me, so im committed now :-) 

incus432

sadexpunk said:

just one quick question please...... on an earlier page it was suggested that VWRL, HMWO or FTWG might be reasonable exchange traded funds to look at, so i put them into II 'search' and found them.
whenever i do a search on II i see the different options, acc or inc, of which i want to choose the acc version.
however, theres nothing to suggest if anything is OEIC or ETF.  is it possible to make a mistake when choosing, and end up with an OEIC when i wanted an ETF for instance?

An ETF will say so in its title and have a 4 letter code. All those you mention are ETFs.  Not sure about ii but when I search for a fund by partial name on AJBell it lists them like this so it's simple to see which is which

Best of luck!

incus432

I gather you have 130k in there - are you planning to invest that in one go in your chosen funds and then conrtiibute further regular investments?

sadexpunk

incus432 said:

I gather you have 130k in there - are you planning to invest that in one go in your chosen funds and then conrtiibute further regular investments?

yes thats correct, why do you ask?  would that affect any particular strategy?

i also have around 10-12k to invest thats in my bank acc at the moment.  not sure whether to put that in there before investing yet, or get up and running then put that into the SIPP later.

thanks

incus432

sadexpunk said:

incus432 said:

I gather you have 130k in there - are you planning to invest that in one go in your chosen funds and then conrtiibute further regular investments?

yes thats correct, why do you ask?  would that affect any particular strategy?

No , unless you were concerned about buying into a 'blip peak'. If so you could do it in tranches . No idea whether that would be better or not - not advice!

sadexpunk

well ive just gone for 2 ETFs initially, the HMWO and FTWG.  havent decided on the other yet.  just looking at my portfolio now...... have i really just lost around £400 in a matter of seconds??