Transferring away from Quilter

Matty1111

My wife was recently dropped as a client by her Financial Planners for missing the annual meeting 😂

We now need somewhere to move her small private pension - £60k. She will be mostly invested in ETFs and trusts only.

Can anyone advise on the process of transferring to SIPP elsewhere and which companies are best in terms of fees and customer service?

She also has significant Ltd company profits so somewhere that can offer company share dealing would be a bonus.

jimjames

I use II for my SIPP, very happy and they have transfer bonus offers at the moment.

LHW99

https://www.ii.co.uk/special-offers

II is a fixed fee platform, which is good as your SIPP increases in value. You can hold OIEC funds, ETF's IT's and shares for the same amount.

Other platforms (HL, ALBell) are % based, and depend to an extent exactly what type of investments you hold. Often OIEC's are more expensive to hold (but may be cheaper to purchase).

You would ask the platform you want to move to to make the transfer - most will have an online form / portal to give the information.

I know with II you can make company contributions as well as personal, so if she wishes to do that from her Ltd Co (comes off the corporation tax that has to be paid) it's something to consider. I don't know if the other two I've mentioned do that, and there are of course other platforms as well which you can find on here if you search.

michael1234

Thanks for highlighting this. It does look good but have I got it right that there is a £40 charge for any trade above 100K (both purchase and sale). Perhaps then 2x50K trades of similar funds might make more sense. Is the general idea I wonder that they want to you have multiple investments rather than 2 or 3 big ones as longer term they'll make more when you come to sell ?

EthicsGradient

michael1234 said:

Thanks for highlighting this. It does look good but have I got it right that there is a £40 charge for any trade above 100K (both purchase and sale). Perhaps then 2x50K trades of similar funds might make more sense. Is the general idea I wonder that they want to you have multiple investments rather than 2 or 3 big ones as longer term they'll make more when you come to sell ?

Are you saying this is with ii? I can't find that, and I can't remember ever hearing about it (I've been with ii for several years, though I think my largest purchase/sale has been about £50k). Which page give you the £40?

eskbanker

EthicsGradient said:

michael1234 said:

Thanks for highlighting this. It does look good but have I got it right that there is a £40 charge for any trade above 100K (both purchase and sale). Perhaps then 2x50K trades of similar funds might make more sense. Is the general idea I wonder that they want to you have multiple investments rather than 2 or 3 big ones as longer term they'll make more when you come to sell ?

Are you saying this is with ii? I can't find that, and I can't remember ever hearing about it (I've been with ii for several years, though I think my largest purchase/sale has been about £50k). Which page give you the £40?

https://www.ii.co.uk/our-charges#trading-fees

EthicsGradient

Thanks - I've never noticed it. I would think not many people do want to trade over £100k at a time - I suppose if you think you need to do a big switch from one investment to another. But it does seem easily avoided by splitting it in under-100k chunks; maybe it's just there to discourage massive day traders.