The BEST SIPP ?

Gatser

EdInvestor wrote: »

I haven't actually got time to work it out Gatser, but is sounds right as H-L will charge you a fee if you buy and hold shares and gilts (Sippdeal won't) but H-L will charge a lower fee to invest in funds.

IIRC their transfer in, drawdown and review costs are much the same.

I appreciate your time issue... I think I will put this to HL & SIPPDEAL direct and let them fight it out for my business.

To be clear though, SIPPDEAL do charge for buying shares & gilts (in my example case, not much different from HL). However HL also charge an AMC on those investments at 0.5% (max £200)

A big negative for SIPPDEAL is that they charge £20 per UT, whilst HL is FREE.

ALSO
SIPPDEAL charge £150 to set up an USP/Drawdown, HL is FREE.

Within my example investments, buying/setting up makes SIPPDEAL more expensive than HL, but by YEAR 4 they cost the same because ongoing costs are alot lower with SIPPDEAL.

SIPPDEAL only appear to charge the drawdown pension payments fee at £10.
I need to check this out...I cannot believe that in years 2 onwards they would only be charging me £20 pa (too good to be true!)

dunstonh

A big negative for SIPPDEAL is that they charge £20 per UT, whilst HL is FREE.

Why have you limited the choice ot HL or Sippdeal? What about Sipp Centre or one of the others?

EdInvestor

Gatser wrote: »

To be clear though, SIPPDEAL do charge for buying shares & gilts (in my example case, not much different from HL). However HL also charge an AMC on those investments at 0.5% (max £200)

That's right.Sippdeal charges a transaction fee to buy the gilts/shares (as does H-L) but nothing for holding them, whereas HL will charge for holding them.

SIPPDEAL only appear to charge the drawdown pension payments fee at £10.I need to check this out...I cannot believe that in years 2 onwards they would only be charging me £20 pa (too good to be true!)

It is true.:) It's extremely low cost if you take an annual drawdown payment, invest directly and rarely trade your portfolio. They do take a turn on cash interest but still offer some of the best rates (better than HL.)

EdInvestor

dunstonh wrote: »

Why have you limited the choice ot HL or Sippdeal? What about Sipp Centre or one of the others?

Sippcentre is just Sippdeal with an IFA. [Sippdealextra is Sippdeal with an outside broker, which charges an annual fee but can be cheaper if you think you might trade a lot.

https://www.alliancetrust.co.uk is worth a look, has its fans.

Gatser

dunstonh wrote: »

Why have you limited the choice ot HL or Sippdeal? What about Sipp Centre or one of the others?

I had taken a look at SIPP CENTRE but felt it was a more expensive version of SIPPDEAL.... am I wrong?
Which others are worth a look please ?

dunstonh

Gatser wrote: »

I had taken a look at SIPP CENTRE but felt it was a more expensive version of SIPPDEAL.... am I wrong?
Which others are worth a look please ?

It may be that the SIPP Centre version I use is different to the version you would get direct but the version i use didnt have some of the fees you mentioned.

Sipp Centre white label their product allowing different distributers (or partners) to manage it with their logo etc. The charges are often negotiated as well.

I havent looked to compare it with the ones Gatsor has looked at but just mentioned it in case.

Gatser

EdInvestor wrote: »

Sippcentre is just Sippdeal with an IFA. Sippdealextra is Sippdeal with an outside broker, which charges an annual fee but can be cheaper if you think you might trade a lot..

Not suitable for me thanks.

EdInvestor wrote: »

www.alliancetrust.co.uk is worth a look, has its fans.

I have taken a look but more expensive than SIPPDEAL and HL
Thanks though.

purch

Basically if you are likely to be holding a significant proportion of the Investments as Unit Trusts/OEIC's then you will struggle to find a cheaper option than HL

Their dealing charges for securities is higher than some, and of course you have the 20 quid a month management charge if you hold non trail paying stuff, but the savings they offer on initial charges for funds will probably outweigh the other charges....

We could of course start another debate about what proportion of the Pension Pot needs to be held in non Fund based investments, to outweigh the slightly higher costs of holding them in a SIPP compared to a PP, but then we'll be here arguing long after you've retired and are enjoying the fruits of your labour..............so probably we should rest the case about now !!

EdInvestor

Gatser

If you have a largish sum to invest it might be worth looking at splitting it between the providers using HL for the funds and Sippdeal for the shares and gilts.

Gatser

EdInvestor wrote: »

Gatser

If you have a largish sum to invest it might be worth looking at splitting it between the providers using HL for the funds and Sippdeal for the shares and gilts.

Damn Good Idea Ed!
Last year we were refitting two bathrooms...could not decide which plumber/installer to chose out of the "final 2".... so we split the job and gave them a room each. It only backfired because they have both moved to Australia to seek their fortunes...so we cannot use them on other jobs we have planned! (Sorry to digress folks! )

BUT.... I do like the idea of splitting the SIPP monies...also a good way to compare service levels / online access etc