cheapest sipps?

jazzy23

Hi I have a SIPP in fidelity just under 250k - so the charge is .35% but no charges for trades, switches etc however, I see II are coming in at .25% and then charge a £3.99 fee for buying (although complicatingly you can get it for free if you do it on a certain day I was told, a freetrade day)
This seems very good in comparision when I costed it out (I I know Vanguard even cheaper but only holds certain funds) - are people moving to these cheaper SIPP providers? I dont see Fidelity mentioned much in the thread - what do people think? 

jazzy23

I should say I have my pension in 3 tracker funds

Albermarle

jazzy23 said:

Hi I have a SIPP in fidelity just under 250k - so the charge is .35% but no charges for trades, switches etc however, I see II are coming in at .25% and then charge a £3.99 fee for buying (although complicatingly you can get it for free if you do it on a certain day I was told, a freetrade day)
This seems very good in comparision when I costed it out (I I know Vanguard even cheaper but only holds certain funds) - are people moving to these cheaper SIPP providers? I dont see Fidelity mentioned much in the thread - what do people think? 

II have a fixed fee per month regardless of the size of the funds. No idea where you got that 0.25% from.
This fixed fee means they get relatively cheaper the bigger the amount of money you have with them.
Regarding Fidelity, they are mentioned from time to time. I think in terms of customers they are only second to HL in this space, with II third.
Fidelity's platform fee drops to 0.2% when you have over £250K with them ( and that is for the whole amount, not just above £250K). Also they have a low cap on fees when you hold 'exchange traded products' rather than funds.
Plus there are very few hidden charges. 

bjorn_toby_wilde

You might find the Monevator website helpful. They have a comparison table which shows you all the charges and fees for different providers.

With a £250k pot you may find that a fixed fee provider could be cheaper than one charging a % fee.  Some providers also become cheaper if you hold your ISA and/or GIA with them.  It’s worth doing the maths as charges can make a big difference to your return in the long run.

poseidon1

jazzy23 said:

Hi I have a SIPP in fidelity just under 250k - so the charge is .35% but no charges for trades, switches etc however, I see II are coming in at .25% and then charge a £3.99 fee for buying (although complicatingly you can get it for free if you do it on a certain day I was told, a freetrade day)
This seems very good in comparision when I costed it out (I I know Vanguard even cheaper but only holds certain funds) - are people moving to these cheaper SIPP providers? I dont see Fidelity mentioned much in the thread - what do people think? 

I pay II a fixed monthly fee of £21.99 covering Sipp, Isa and GIA account. The fee is taken from the GIA account only, leaving the ISA and Sipp ' unmolested'.

The monthly £3.99 trading allowance can be used any time during the month by any one of the three accounts. It is a 'use it or lose it' facility. I use it for small trades on the ISA  account ( reinvestment of occasional dividends). On much larger purchases, the usual £3.99 commission charge per trade is hardly noticeable.

Can confirm, II is a lot cheaper than HL for the collective value of my three accounts, although I do prefer HL's slicker desktop interface and App.