Hargreaves Lansdown or Fidelity SIPP?

EdInvestor

chris1 wrote: »

which ones would a person look at as the 'second SIPP for ETFs etc'?
Thanks

That would be Sippdeal (or possibly Selftrade, which uses Sippdeal as its administrator).

https://www.sippdeal.co.uk
https://www.selftrade.co.uk

HL is almost certainly significantly cheaper than Fidelity which uses Standard Life as the SIPP administrator IIRC, SL are expensive.

chris1

chris1 wrote: »

What are your views on the pros & cons of HL versus Fidelity's SIPP?

If I've understood correctly here are my initial findings:

I'm referring to funds only to avoid annual charges.

Annual charge for SIPP: HL none, Fidelity none if open before late April.
Initial charge for funds: HL usually zero but not always, Fid zero
Ongoing charges: HL charge for some funds (e.g. Fidelity's low cost Moneybuilder type funds)
Switching fee: Fidelity zero, couldn't find out from HL site.
End charges: HL some, Fidelity say verbally there aren't any (hmmmm) but couldn't find written anywhere.

What bothers me about the Fidlity literature, the letter says no charges but the Key Features/Ts&Cs which you actually sign up to clearly state you will be charged(?)

Before my head explodes I'd appreciate others' opinions / views / experiences...

Thanks

Does anyone else have any experience or views on the original question, Fidelity vs HL?
Thanks

purch

Hargreaves Landsdown all the way................charges, choice, website, administration, research (and the fact I own shares in em )

wombat42_2

Cant give you an in depth analysis of H&L v other providers but i think that H&L are well groovy for SIPPs.

dickietruncheon

The fidelity SIPP is misleading if you wish to take Income Drawdown. Unless you are through an IFA (and why would you as most are incompetent) you cannot take Income Drawdown. This not clear in the documentation and the T&Cs they send you out are for an IFA managed SIPP which clearly states that Income Drawdown is allowed. There is no mention of the non IFA exclusion which is hidden away in an addendum.

H_L Sipps are the best I have found, no independent IFA required and full Income Drawdown availability

dunstonh

H_L Sipps are the best I have found, no independent IFA required and full Income Drawdown availability

Its OK. However, its not the best. Its more of a glorified fund supermarket pension than a full SIPP. Its not that cheap either. Some personal pension drawdown plans can come in cheaper. Some of the fund supermarket pensions can beat it too.

I have gone off Fidelity a bit over the years although its now possible for them to also be cheaper than HL as they have introduced explicit trail commission. That allows an IFA to rebate some or all the trail. Unlike HL which keep it all.