Platform allowing management of crystallised and u crystallised pots

michaels

Any suggestions for a platform that allows sensible management of crystallised and u crystallised pots as separate entities?

My current plan was to use separate platforms and I have tried to transfer crystallised only from II to Charles Stanley but currently neither platform can actually tell me if this has happened as requested.

II do in theory have this info on the platform but apparently need whatever to be finalised before I can see it which will take an unknown amount of time and in general they do not allow transactions on only one pot.

CS apparently only the pension trustees, embark, even have the info, so I gave to request via a message and it takes an unknown but apparently long period of time to get a response.

Surely there are platforms that make this easy?

WH69

I have separate crystallised and uncrystallised pots with Fidelity where I can manage the funds within each as separate entities.

michaels

Thanks, useful

Aren't fidelity quite expensive?

Linton

WH69 said:

I have separate crystallised and uncrystallised pots with Fidelity where I can manage the funds within each as separate entities.

HL also have separate portfolios for crystalised and uncrystalised funds. I dont know of any others.

michaels said:

Any suggestions for a platform that allows sensible management of crystallised and u crystallised pots as separate entities?

My current plan was to use separate platforms and I have tried to transfer crystallised only from II to Charles Stanley but currently neither platform can actually tell me if this has happened as requested.

II do in theory have this info on the platform but apparently need whatever to be finalised before I can see it which will take an unknown amount of time and in general they do not allow transactions on only one pot.

CS apparently only the pension trustees, embark, even have the info, so I gave to request via a message and it takes an unknown but apparently long period of time to get a response.

Surely there are platforms that make this easy?

If  your provider only supports % crystallised as a single number then there is no difference in the funds themselves.  The funds arent allocated in this way so there is no way such a provider can move only the crystallised funds.

You may be able to manage your own allocations with a spreadsheet if you really want separate cystallised and uncrystallised portfolios.

WH69

michaels said:

Thanks, useful

Aren't fidelity quite expensive?

It depends how much is held across all of your accounts, i only pay 0.2%.  This also covers my wife and son, i.e. they pay the same 0.2% as they are in my household but they do not meet the threshold for the 0.2% level of charge.

SVaz

Charles stanley use notional split.
As long as you know how much is crystallised vs uncrystallised,  you can manage it yourself by using different investments in different ‘pots’ as it were.
So if it’s 50/50 then say £50k crystallised in one virtual ‘pot’ with one investment.  £50k in another, so you know where you are.
That’s how I’ve done it anyway.
It becomes more tricky when you are still adding funds but as long as you keep track it’s fine.
My Wife prefers Hargreaves due to the actual pot split into Sipp account and Drawdown account because she’s contributing and drawing down. 

DRS1

If you are in the middle of a partial transfer then it may be a bit late to change course now.  But I would have thought it would be simpler to use a platform like HL which allows you have separate pots than to have crystallised on one platform and uncrystallised on another.  With two platforms every time you crystallise a bit of the uncrystallised pot you are looking at doing another transfer.

Albermarle

michaels said:

Thanks, useful

Aren't fidelity quite expensive?

The platform fee is 0.35%, reducing to 0.2% if you have > £250K on the platform.
If you only invest in OEIC funds, then that is what you pay.
However if you only invest in 'exchange traded products' which means shares; Investment trusts or ETF 's , the platform fee is capped at £90 . Of course there are charges to buy and sell these products and stamp duty in some cases, but if you only buy and sell occasionally then not such an issue.
I actually have a mix of OEICs and ITs and ETFs and pay around 0.08% platform fee as an average.
There are almost no charges for anything else.
Customer service seems pretty good and reliable. 

DavidT67

Note, that as Hargreaves Lansdown views the crystallised 'SIPP Drawdown' and uncrystallised 'SIPP' pots as two separate accounts, they charge platforms fees for both accounts; so £200 for each if using capped investments, and virtually unlimited if using uncapped investment funds. 

Albermarle

DavidT67 said:

Note, that as Hargreaves Lansdown views the crystallised 'SIPP Drawdown' and uncrystallised 'SIPP' pots as two separate accounts, they charge platforms fees for both accounts; so £200 for each if using capped investments, and virtually unlimited if using uncapped investment funds. 

If using uncapped funds ( OEICs basically ) you will be charged the normal platform charge. So will be the same whether it is all one fund or two separate ones.
You are right that if using capped investments, the cost will double 
Fidelity is better as the £90 cap is across the platform, for SIPP ( one pot or two)  and ISA.

Linton

SVaz said:

Charles stanley use notional split.
As long as you know how much is crystallised vs uncrystallised,  you can manage it yourself by using different investments in different ‘pots’ as it were.
So if it’s 50/50 then say £50k crystallised in one virtual ‘pot’ with one investment.  £50k in another, so you know where you are.
That’s how I’ve done it anyway.
It becomes more tricky when you are still adding funds but as long as you keep track it’s fine.
My Wife prefers Hargreaves due to the actual pot split into Sipp account and Drawdown account because she’s contributing and drawing down. 

Virtual pots become more complex with notional split if for example you have low growth funds in your crystallised pot and high growth funds in the uncrystalised pot.  With notional split the % crystalisation should remain constant if there are no withdrawals or contributions  whereas the % allocation to the uncrystallised virtual pot would increase.