True potential costs and performance

SonofSpeke

I think with the power of hindsight I was just being lazy when I invested with TP, a minefield for the newbie with little understanding or ind advice, £250k investment has cost me £12k over 3 years which seems expensive to me. Is it relatively easy to transfer this lump sum to another fund and reduce costs increasing performance preferably as well. I see figures of the 0.25% region for fees is that total cost? any advice or thoughts most welcome.

MallyGirl

For that value you would be better off with a fixed fee SIPP rather than one that charges a percentage. If going for a SIPP. For example I pay £21.99 a month which includes 1 trade credit - that covers a SIPP, a S&S ISA and a GIA.

Marcon

MallyGirl said:

For that value you would be better off with a fixed fee SIPP rather than one that charges a percentage. If going for a SIPP. For example I pay £21.99 a month which includes 1 trade credit - that covers a SIPP, a S&S ISA and a GIA.

Not sure from OP's post that the investment is a pension. Could be any sort of investment - OP, perhaps you could clarify please?

dunstonh

 has cost me £12k over 3 years which seems expensive to me.

TP is in the same market as SJP.    If you use an expensive distribution channel then it will be expensive.

Is it relatively easy to transfer this lump sum to another fund and reduce costs increasing performance preferably as well. 

Its not the fund that you need to change as such but the provider.   Ideally, you want to go the whole of market and not be restricted as you currently are.

I see figures of the 0.25% region for fees is that total cost

TP is a different service from DIY and picking the cheapest options going.  TP do the due diligence and research, selects investments, and makes adjustments.   You will need to do that yourself if you go down that route.   Many people do that perfectly fine and without issue.   Unfortunatly, many make a right pigs ear of it.   So, you will need to do some reading and learning.

SonofSpeke

Marcon said:

MallyGirl said:

For that value you would be better off with a fixed fee SIPP rather than one that charges a percentage. If going for a SIPP. For example I pay £21.99 a month which includes 1 trade credit - that covers a SIPP, a S&S ISA and a GIA.

Not sure from OP's post that the investment is a pension. Could be any sort of investment - OP, perhaps you could clarify please?

Sorry for that yes it is a pension.