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The best Pension platform fees
dllive
Posts: 1,339 Forumite
Hi guys
My SIPP is within Vanguard. The usual global passive index funds.
Ive built up about £120k.
Im turning my attention to platform costs. (I have about 20 years of work left). How does Vanguard's platform fees compare to others? Should I just stay with Vanguard?
Thanks
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You could try here as well
https://comparefundplatforms.com
The bottom line is that it depends on the size of your account(s), what investments you hold/want to hold, and what level of trading you do.
Vanguard is fairly low cost, but with the small caveat that you are limited to Vanguard funds (though in the grand scheme, I don't really see that as much of an issue tbh)1 -
Vanguard is fairly low cost, but with the small caveat that you are limited to Vanguard funds (though in the grand scheme, I don't really see that as much of an issue tbh)Plus, not all Vanguard funds are available on its platform. You have to go to real SIPPs to access them. And institutional share class funds are not available on Vanguard's platform but are elsewhere (not that institutional would be available to the OP).
The functionality and quality of software should be considered as well. Some of the cheapest ones have awful software and cause frustration.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
As noted, it's not always about the cheapest....
I suggest working out what types of investments you are likely to hold and the range you need, how often you are likely to deal, and what the charging structure is for your fund size (now and in future) and take it from there. Website functionality and customer service worth considering too.
It's difficult to state categorically that a single platform is 'cheapest' or 'best' without doing that. I use a supposedly 'expensive' platform, but it's actually pretty cheap given what I hold, how little I deal, and what I think I get in customer service. Works out about 3-4bps a year including my trading costs (which are fairly limited).1
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