Anyone with an AJ Bell SIPP and Drawdown?

thingswerentthisbadinmyday

Currently, I have arrangements with a couple of platforms which work well.
I use both AJB (ISA) and HL (SIPP/Drawdown). I’ve used both long enough now to know how they work.
And just to say up front, I’m overall happy with the service received from both.
Turning to SIPPs, my current arrangements are with HL where I have both a SIPP and a SIPP drawdown. These are discrete accounts. I can see at the drop of a hat what’s in the SIPP, both cash and investments. If I then switch to Drawdown account, I can see immediately the list of funds, shares and cash and I know, without further thought, that if I withdraw anything from this pot that not only is it taxable at my marginal rate, but I also trigger the MPAA. Nothing new in any of this.
What I’m trying to sort, though, is whether AJB operate a similar system. I’m in touch with them but I sense there are differences in their approach and before I contemplate any sort of transfer (on simple cost grounds, not service), I want to be absolutely sure.
Although I’ve had an explanation as to how AJB operates SIPP/Drawdown, I’m a visual person and I need to try and ‘see’ what I’m being told, otherwise I can struggle to understand.
Any input from fellow forum members who have an AJB SIPP and Drawdown would be much appreciated.
If I do end up transferring all/part of my SIPP, I only want to do it once!
Thanks.

SVaz

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

As you say,  it’s far easier to understand,  even if it doesn’t really make a blind bit of difference materially. 
I have an old Sipp with Charles Stanley that is partially crystallised and it’s a pita - I plan to use UFPLS for 2-3 years when I retire so need to know how big my uncrystallised portion is ,  I’ve already got a big chunk in a short term mm fund  but it would be nice, psychologically speaking,  to have the uncrystallised pot completely separate as I’m still contributing. 

fisher66

A J Bell record what percentage of your total SIPP has been crystallised.  As the values of existing investments change then the values of the crystallised portion and uncrystallised portion change too. If you crystallise more of your SIPP then the percentages crystallised and uncrystallised are recalculated.

tacpot12

fisher66 said:

A J Bell record what percentage of your total SIPP has been crystallised.  As the values of existing investments change then the values of the crystallised portion and uncrystallised portion change too. If you crystallise more of your SIPP then the percentages crystallised and uncrystallised are recalculated.

It would help the OP to know/where how AJ Bell show this information. I use AJ Bell for my SIPP that is in drawdown, but I use UFPLS exclusively so I can't help them. I get crystallisation reports every month after each withdrawal via email.  

thingswerentthisbadinmyday

SVaz said:

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

…..

Thanks.
I cannot contemplate a transfer unless I can see my SIPP and Drawdown accounts separately. It’s just the way I work.
The decision for me (excluding customer service) is a close run thing. I realise that the HL platform fees are higher than AJB, but I do tend to make smaller ad hoc fund purchases (free with HL, not AJB) as well as re-investing share divis (free HL, not AJB). Needless to say, these days I don’t undertake many share purchases or sales at HL (unless I have to) given the dealing fee of £11.95.
Thanks for all the comments.
It’s looking like my best option is to stay put unless I keep the SIPP with HL and just move the Drawdown.

ColdIron

thingswerentthisbadinmyday said:

SVaz said:

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

…..

Needless to say, these days I don’t undertake many share purchases or sales at HL (unless I have to) given the dealing fee of £11.95.

£0 to buy if you don't mind waiting a few weeks with monthly savings. Are the purchases that time critical?

thingswerentthisbadinmyday

ColdIron said:

thingswerentthisbadinmyday said:

SVaz said:

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

…..

Needless to say, these days I don’t undertake many share purchases or sales at HL (unless I have to) given the dealing fee of £11.95.

£0 to buy if you don't mind waiting a few weeks with monthly savings. Are the purchases that time critical?

Thanks for the heads up. I was aware of the (no cost) monthly DDR option but I tend to use that for funds.
Also, on the odd occasions that I buy shares (or investment trusts), I prefer to control timing and the amount of the investment which isn’t practical with my modest monthly DDR.
Thanks

Albermarle

ColdIron said:

thingswerentthisbadinmyday said:

SVaz said:

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

…..

Needless to say, these days I don’t undertake many share purchases or sales at HL (unless I have to) given the dealing fee of £11.95.

£0 to buy if you don't mind waiting a few weeks with monthly savings. Are the purchases that time critical?

The other SIPP provider that separates the pots ( like HL does) is Fidelity.
Their platform charges are less than HL, but more than AJB.

Are you aware that all three providers have a cap on fees if you have certain types of investments?
These are shares; ETFs and Investment Trusts, which are all traded directly on the market, as opposed to OEICs( unit trusts) which are not.
Although there are charges for buying and selling these investments, the fee caps are quite low.

thingswerentthisbadinmyday

Albermarle said:e€

ColdIron said:

thingswerentthisbadinmyday said:

SVaz said:

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

…..

Needless to say, these days I don’t undertake many share purchases or sales at HL (unless I have to) given the dealing fee of £11.95.

£0 to buy if you don't mind waiting a few weeks with monthly savings. Are the purchases that time critical?

The other SIPP provider that separates the pots ( like HL does) is Fidelity.
Their platform charges are less than HL, but more than AJB.

Are you aware that all three providers have a cap on fees if you have certain types of investments?
These are shares; ETFs and Investment Trusts, which are all traded directly on the market, as opposed to OEICs( unit trusts) which are not.
Although there are charges for buying and selling these investments, the fee caps are quite low.

Thanks and yes, I was aware of the fee cap in respect of shares, ETFs and ITs. What I don’t get, though, is why the ‘cap’ for a SIPP is so much higher than for a stocks and shares ISA. In a SIPP, HL cap appears to be £200 pa and AJB £120 pa. Don’t know about any other platforms.
Given my split between SIPP and Drawdown balances, it would have been preferable to find a provider which aggregates the fee across all accounts. 
Just something else which goes into my calculations.

Albermarle

thingswerentthisbadinmyday said:

Albermarle said:e€

ColdIron said:

thingswerentthisbadinmyday said:

SVaz said:

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

…..

Needless to say, these days I don’t undertake many share purchases or sales at HL (unless I have to) given the dealing fee of £11.95.

£0 to buy if you don't mind waiting a few weeks with monthly savings. Are the purchases that time critical?

The other SIPP provider that separates the pots ( like HL does) is Fidelity.
Their platform charges are less than HL, but more than AJB.

Are you aware that all three providers have a cap on fees if you have certain types of investments?
These are shares; ETFs and Investment Trusts, which are all traded directly on the market, as opposed to OEICs( unit trusts) which are not.
Although there are charges for buying and selling these investments, the fee caps are quite low.

Thanks and yes, I was aware of the fee cap in respect of shares, ETFs and ITs. What I don’t get, though, is why the ‘cap’ for a SIPP is so much higher than for a stocks and shares ISA. In a SIPP, HL cap appears to be £200 pa and AJB £120 pa. Don’t know about any other platforms.
Given my split between SIPP and Drawdown balances, it would have been preferable to find a provider which aggregates the fee across all accounts. 
Just something else which goes into my calculations.

With Fidelity, the £90 cap is for the whole platform, including any ISA's or SIPP's

Normally SIPPs are more expensive to operate, especially when you start to withdraw from them.

thingswerentthisbadinmyday

Albermarle said:

!thingswerentthisbadinmyday said:

Albermarle said:e€

ColdIron said:

thingswerentthisbadinmyday said:

SVaz said:

Afaik, AJB do not separate the ‘pots’ , they use notional split like the majority of providers.
The way HL do it is worth more to us than the slightly lower fees of others, especially as my wife  is both contributing and drawing down from her Sipp. 

…..

Needless to say, these days I don’t undertake many share purchases or sales at HL (unless I have to) given the dealing fee of £11.95.

£0 to buy if you don't mind waiting a few weeks with monthly savings. Are the purchases that time critical?

The other SIPP provider that separates the pots ( like HL does) is Fidelity.
Their platform charges are less than HL, but more than AJB.

Are you aware that all three providers have a cap on fees if you have certain types of investments?
These are shares; ETFs and Investment Trusts, which are all traded directly on the market, as opposed to OEICs( unit trusts) which are not.
Although there are charges for buying and selling these investments, the fee caps are quite low.

Thanks and yes, I was aware of the fee cap in respect of shares, ETFs and ITs. What I don’t get, though, is why the ‘cap’ for a SIPP is so much higher than for a stocks and shares ISA. In a SIPP, HL cap appears to be £200 pa and AJB £120 pa. Don’t know about any other platforms.
Given my split between SIPP and Drawdown balances, it would have been preferable to find a provider which aggregates the fee across all accounts. 
Just something else which goes into my calculations.

With Fidelity, the £90 cap is for the whole platform, including any ISA's or SIPP's

Normally SIPPs are more expensive to operate, especially when you start to withdraw from them.

I’ve previously had an ISA with Fidelity and was happy with the service level, etc.
Not had any experience of their SIPP offerings, though.
May now have a look.
Thanks.