Trading fees on ETF trades HL SIPP

4500_Donavan

Hi.

I've asked HL but they are taking forever to get back to me. Does anyone know if you pay trading fees when automatically buying ETFs from company contributions in the HL SIPP? You don't on OEICs.

Many thanks.

ColdIron

There are no trading fees on OEICs but there usually are for ETFs. £11.95 tiered depending on the number of trades

There are no charges if you use the monthly saving option via direct debit but this doesn't sound like you where the money is already in the SIPP. What do you mean by 'automatically'? Can you see any charges in your contract notes? They should be authoritative

https://www.hl.co.uk/charges

4500_Donavan

@ColdIron There is a function in the HL SIPP that automatically buys new funds when my employer contribution hits the account. This is based on a predefined preferences. It is not the personal DD option. 

Albermarle

4500_Donavan said:

@ColdIron There is a function in the HL SIPP that automatically buys new funds when my employer contribution hits the account. This is based on a predefined preferences. It is not the personal DD option. 

Maybe HL and your employer have their own agreement on charges ?

4500_Donavan

Response from HL below. I accept that I am only of average intelligence but that seems clear as mud to me!

"I'm afraid ETFs are not typically available for regular saving investment by direct debit.

This is a business decision as not all ETFs are FTSE 350 stocks, which are the only equities we offer through regular investing.

Certain ETFs are available for regular investment, these can be found on our website. If you'd like us to look into a certain ETF for regular investing, please let us know and we will investigate this further.

There's no HL charge for investing into funds (unit trusts & OEICs), shares, investment trusts and ETFs. Stamp Duty levied by the government at a rate of 0.5% is applied to the purchase of select UK listed stock (however this does not apply to funds or ETFs).

I hope this has been of assistance. If you have any other questions, please get back to me."

4500_Donavan

Albermarle said:

4500_Donavan said:

@ColdIron There is a function in the HL SIPP that automatically buys new funds when my employer contribution hits the account. This is based on a predefined preferences. It is not the personal DD option. 

Maybe HL and your employer have their own agreement on charges ?

Thanks @Albermarle, not that I am aware of. 

BobR64

My understanding, based on my own HL account, is that you can't set up monthly employer contributions to automatically invest in an ETF. It either has to be an OEIC-type fund, or held as cash. However, I understand that you can set up your own personal monthly direct debits into your SIPP to invest automatically into an ETF without dealing charges. I haven't ever done this myself so I could be wrong, but I have had DDs going into monthly ISA ETF investments in the past so it seems plausible that it would be supported.

4500_Donavan

Thanks @BobR64

DRS1

4500_Donavan said:

Response from HL below. I accept that I am only of average intelligence but that seems clear as mud to me!

"I'm afraid ETFs are not typically available for regular saving investment by direct debit.

This is a business decision as not all ETFs are FTSE 350 stocks, which are the only equities we offer through regular investing.

Certain ETFs are available for regular investment, these can be found on our website. If you'd like us to look into a certain ETF for regular investing, please let us know and we will investigate this further.

There's no HL charge for investing into funds (unit trusts & OEICs), shares, investment trusts and ETFs. Stamp Duty levied by the government at a rate of 0.5% is applied to the purchase of select UK listed stock (however this does not apply to funds or ETFs).

I hope this has been of assistance. If you have any other questions, please get back to me."

Maybe ask them where you can find the list of ETFs that are available for regular investment?  They say it is on their website.  Or if you have one in mind  ask them if that one is available.

I know a lot of investment trusts are in the FTSE 350 but I am not sure about ETFs.

FIREDreamer

DRS1 said:

4500_Donavan said:

Response from HL below. I accept that I am only of average intelligence but that seems clear as mud to me!

"I'm afraid ETFs are not typically available for regular saving investment by direct debit.

This is a business decision as not all ETFs are FTSE 350 stocks, which are the only equities we offer through regular investing.

Certain ETFs are available for regular investment, these can be found on our website. If you'd like us to look into a certain ETF for regular investing, please let us know and we will investigate this further.

There's no HL charge for investing into funds (unit trusts & OEICs), shares, investment trusts and ETFs. Stamp Duty levied by the government at a rate of 0.5% is applied to the purchase of select UK listed stock (however this does not apply to funds or ETFs).

I hope this has been of assistance. If you have any other questions, please get back to me."

Maybe ask them where you can find the list of ETFs that are available for regular investment?  They say it is on their website.  Or if you have one in mind  ask them if that one is available.

I know a lot of investment trusts are in the FTSE 350 but I am not sure about ETFs.

https://www.hl.co.uk/investment-services/invest-by-direct-debit

Then for a list of eligible ETFs …

4500_Donavan

@FIREDreamer Thanks so much. That was super useful. I'm currently in L&G Global 100 and Fidelity Index Word OEICs. I need to investigate equivalents ITs or ETFs.