Finally moving the SIPP

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  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    I think I just need to get through this pain and then I won't need to 'fiddle' for a while thereafter so, I can do my ostrich impression.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • StellaN
    StellaN Posts: 354 Forumite
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    cloud_dog wrote: »
    I think I just need to get through this pain and then I won't need to 'fiddle' for a while thereafter so, I can do my ostrich impression.

    in fairness though, Fidelity really should get their act together regarding their website because it shouldn't give customers such headaches/problems with simple monthly DD transactions. Thank God I don't make monthly DD contributions.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    I haven't used Fidelity, but I find Charles Stanley Directs on par with HL. My only issue is if I want to change my DD I have to message them, no option to fill in a form and press submit.

    On a side note - what was your reasoning from going from OEICs to ITs?
  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    edited 9 April 2018 at 9:58PM
    Lokolo wrote: »
    On a side note - what was your reasoning from going from OEICs to ITs?
    I've always been a fan of ITs.

    In days gone by it was the more transparent charging structure (not as opaque as UTs/OIECs). I like the immediacy of action when I make a decision, it provides clarity for me. Going back many years, I used to work in a financial organisation and I had access to 'MarkeyEye' (I think; if you think real-time cefax - do you remember cefax????), anyway I used to also trade ITs based on their discount/premium (well one specifically).

    I've had to do a little compromising in this switch insofar as I (OH SIPP) would have had a simple tracker / index fund for the US for example, and I can't quite get my head in to ETFs so I've compromised in this area, or rather re-adjusted how I have assessed the ITs I have chosen. I understand most ETFs but for some reason they seem to lack a degree of clarity for me (personal feeling).

    A lot of those traits still appeal to me.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    cloud_dog wrote: »
    X-O (Jarvis) comes in good from a price perspective but I know their main X-O dealing site is very basic (functional but basic) and I've not used their SIPP provider.

    Jarvis now use Gaudi who so far have been quietly efficient (accumulation phase). There's no annual management charge either. Website is clean and functional. Which is my personal choice as well. As I have a dislike of cluttered web pages that serve no purpose.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Lokolo wrote: »

    On a side note - what was your reasoning from going from OEICs to ITs?

    Closed fund rather than open. I like to know what I'm buying (in terms of underlying investments).
  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    Thrugelmir wrote: »
    Jarvis now use Gaudi who so far have been quietly efficient (accumulation phase). There's no annual management charge either. Website is clean and functional. Which is my personal choice as well. As I have a dislike of cluttered web pages that serve no purpose.
    I considered moving the OHs SIPP to X-O (would need to move ISA also) so as to benefit from the SIPP charge refund.

    The thing that put me off, at the time, related to how X-O had implemented MiFID II. I don't know if it has changed / improved but at the time in order to purchase an IT I (OH) would have to phone X-O to confirm risk understanding (KID?), which was not going to be workable when I manage the account(s).
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    cloud_dog wrote: »
    The thing that put me off, at the time, related to how X-O had implemented MiFID II. I don't know if it has changed / improved but at the time in order to purchase an IT I (OH) would have to phone X-O to confirm risk understanding (KID?), which was not going to be workable when I manage the account(s).

    Was painfull at the outset. After the first call to activate a purchase trade on an existing holding. I subsequently rang back and confirmed the KIID's on all my other holdings (both in the SIPP and the ISA). Though some didn't actually require this. Getting through the telephone has never been an issue. As the call goes directly to the trading desk who can activate the stock on the account.

    One imagines that the new regulations haven't been easy to implement. Not simply a question of ticking a box to trade a stock. When some fund managers failed to provide KIID's. Seems to have impacted ETF's in particular.
  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    I need some support.... I am getting even more frustrated with Fidelity.

    So yesterday I made three investments in to ITs and it appears they execute the trades in a similar fashion to OIECs, insofar as they collate the trades and execute them the following day. The following day for heavens sake.

    I commented on another thread (Savings & Investment) that one of my purchases had made a nice 5% well.... no it didn't because they were purchased today.

    TBH, I feel a bit of a mug. I don't understand how I couldn't have identified or understood that is how they (currently) operate with regard to IT investments. I know in the grand scheme of things it is not the end of the world but I feel, well.... sad.

    Wonder if I can move it all back to YouInvest :D
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • timodell
    timodell Posts: 33 Forumite
    To be honest, I think you are better off staying with the class-leading HL web-site/app using ITs and ETFs for a 0.45% fee capped at £200 pa. Fidelity are having a joke if you can't trade on live prices.
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