Transferring SIPP from Hargreaves Lansdown to Vanguard

Luckybonus

Hi,

I have decided to do the above, as although I feel I have learnt a lot studying investments and differences between different funds, advice on fees and platforms, I find it really difficult still picking investments, knowing when to sell or keep them, what price to buy and sell out, how do the physical transfer, watching the funds go down etc.

I had invested about £6800 in my SIPP and most was in Lindsell fund and it was doing well for a while, but then it started to loose money, so I sold it and then invested in about 7 funds including some shares. I have decided to move it to Vanguard managed funds, as I have realised I have not really understood what I am doing and whether I am making the right choices for me.

I just wondered if anyone has any thoughts on the above/my decision.

Thankyou :)

dunstonh

 I find it really difficult still picking investments, knowing when to sell or keep them, what price to buy and sell out, how do the physical transfer, watching the funds go down etc.

you shouldn't need to be selling and buying etc on a regular basis. Maybe once a year rebalancing and the odd tweak periodically checking that the funds you have are still optimal. Alternatively, buy a multi-asset fund where it is done for you.

I had invested about £6800 in my SIPP and most was in Lindsell fund and it was doing well for a while, but then it started to loose money, so I sold it and then invested in about 7 funds including some shares. 

Until you get to around £8k plus, it really doesn’t matter what you invest in. The difference in returns in monetary terms is negligible. And realistically, there is absolutely no point trying to play the markets with a small amount like that. 7 funds and shares on such a small amount is pointless.

 I have decided to move it to Vanguard managed funds, as I have realised I have not really understood what I am doing and whether I am making the right choices for me.

I just wondered if anyone has any thoughts on the above/my decision.

Moving to a multi-asset fund seems much more sensible. Moving it to Vanguard platform is less so. Not bad. Just not optimal.

Luckybonus

Thankyou very much for your message, why not optimal going with Vanguard?

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/82066949#Comment_82066949

Vanguard funds are fine, but no longer price leaders. Their platform is expensive and buggy, and their customer service is not great, Scottish Widows is cheap and the service is fine, but not the best.

LHW99

And if you want a vanguard fund, you can almost certainly find it on HL

Sam_666

With such low investment, you need to go with platform of zero fees.
Otherwise, you are wasting time and money.

DRS1

Before you get lost in the rabbit warren that is the Scottish Widows site I think this is the thing @GeoffTF means

Share Dealing Account | Investing | Scottish Widows

To find the SIPP you need to go to the bottom of the page.

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/82067122#Comment_82067122

I did not realise that the OP was looking for a SIPP. SW is not particularly cheap for SIPPs. Here is comparison:

https://monevator.com/compare-uk-cheapest-online-brokers/

If the OP is investing relatively small sums in a SIPP and has a long time to go until retirement, there are much cheaper options, provided that he uses exchange traded funds.

jimjames

https://forums.moneysavingexpert.com/discussion/comment/82067115#Comment_82067115

Although for a small amount a percentage fee like HL is hardly massive either. Vanguard will be more expensive as they have the minimum monthly charge.

GeoffTF

I had invested about £6800 in my SIPP and most was in Lindsell fund and
it was doing well for a while, but then it started to loose money, so I
sold it and then invested in about 7 funds including some shares. I have
decided to move it to Vanguard managed funds, as I have realised I have
not really understood what I am doing and whether I am making the right
choices for me.

If you want to learn more, I suggest this (starting from the oldest article):

https://monevator.com/tag/kroijer/

Luckybonus

Thankyou every one for your advice. I don't think I can stop my transfer to Vanguard now. I thought Vanguard was low in fees, whereas with HL I invested in several funds which each her their own individual charges so I thought this was costing me more.