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    • cloud_dog
    • By cloud_dog 10th Jan 18, 12:31 AM
    • 3,690Posts
    • 2,190Thanks
    cloud_dog
    Finally moving the SIPP
    • #1
    • 10th Jan 18, 12:31 AM
    Finally moving the SIPP 10th Jan 18 at 12:31 AM
    Ok, so after a lot of research and way too much procrastinating, I have finally decided on the course of action for the OH SIPP, currently with HL and invested in OIECs.

    I had tried long and hard to convince myself to transfer it to X-O (Jarvis) SIPP but, even though I have my ISA with them I couldn't quite convince myself to move it there (even though I would have saved having to pay any SIPP annual charges).

    I have probably mentioned on other threads that I was looking to go down the route of non-OIEC investments.

    I have opened a SIPP with AJ Bell/YouInvest. They will also reimburse any transfer costs (up to 500), which is nice and takes that as a consideration out of the equation.

    As touched on above currently the money is invested in OIECs but it will be re-invested in ITs. My dilemma is trying to work out whether to sell all the OIECs and transfer as cash or transfer as OIECs and sell/re-buy in ITs as appropriate.

    If I transfer as cash then I would imagine the transfer time will be significantly quicker than as OIECs; Youinvest indicate approximately 2 weeks to transfer cash. But, I would be out of the market. If I transfer as OIECs then I remain 'in the market' but this (apparently) can take up to 2 months (6 to 8 weeks).

    Am hedging towards selling and transferring as cash.

    Anyone else done a HL to YouInvest SIPP transfer recently, any comments on time scales etc?
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
Page 3
    • cloud_dog
    • By cloud_dog 9th Apr 18, 5:53 PM
    • 3,690 Posts
    • 2,190 Thanks
    cloud_dog
    If you are having second thoughts, then as ArchBair has said I think Charles Stanley & AJ Bell are the next best options for pricing.
    Originally posted by StellaN
    The OH (who's SIPP it is) has a SIPP with YouInvest/AJ Bell (was going to move the SIPP there). As I've mentioned I found their website more than adequate but decided not to go with them due to how they have previously implemented their structural pricing changes (not just price increases).

    Having a basic website or web pages doesn't bother me, my ISA is with X-O, they don't come more basic), but the Fidelity pages (certainly the monthly deposits) are just so user unfriendly.
    Last edited by cloud_dog; 09-04-2018 at 5:55 PM.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • cloud_dog
    • By cloud_dog 9th Apr 18, 5:57 PM
    • 3,690 Posts
    • 2,190 Thanks
    cloud_dog
    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

    Sometimes.... I am like a dog with a bone
    • StellaN
    • By StellaN 9th Apr 18, 8:08 PM
    • 215 Posts
    • 74 Thanks
    StellaN
    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.
    Originally posted by cloud_dog
    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
    • By Lokolo 9th Apr 18, 8:32 PM
    • 19,986 Posts
    • 15,112 Thanks
    Lokolo
    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
    • By cloud_dog 9th Apr 18, 9:51 PM
    • 3,690 Posts
    • 2,190 Thanks
    cloud_dog
    On a side note - what was your reasoning from going from OEICs to ITs?
    Originally posted by Lokolo
    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.
    Last edited by cloud_dog; 09-04-2018 at 9:58 PM.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • Thrugelmir
    • By Thrugelmir 9th Apr 18, 10:10 PM
    • 58,476 Posts
    • 51,849 Thanks
    Thrugelmir
    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.
    Originally posted by cloud_dog
    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.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • Thrugelmir
    • By Thrugelmir 9th Apr 18, 10:16 PM
    • 58,476 Posts
    • 51,849 Thanks
    Thrugelmir

    On a side note - what was your reasoning from going from OEICs to ITs?
    Originally posted by Lokolo
    Closed fund rather than open. I like to know what I'm buying (in terms of underlying investments).
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • cloud_dog
    • By cloud_dog 9th Apr 18, 10:17 PM
    • 3,690 Posts
    • 2,190 Thanks
    cloud_dog
    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.
    Originally posted by Thrugelmir
    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

    Sometimes.... I am like a dog with a bone
    • Thrugelmir
    • By Thrugelmir 9th Apr 18, 10:39 PM
    • 58,476 Posts
    • 51,849 Thanks
    Thrugelmir
    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).
    Originally posted by cloud_dog
    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.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
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