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  • FIRST POST
    • lidl 1
    • By lidl 1 29th Jan 18, 3:25 PM
    • 4Posts
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    lidl 1
    HL or AJBell for a SIPP
    • #1
    • 29th Jan 18, 3:25 PM
    HL or AJBell for a SIPP 29th Jan 18 at 3:25 PM
    does anyone have any experience/opinions on which is better for a SIPP...self managed and investing in shares ad ITs...no funds but will hold cash as and when
Page 1
    • cloud_dog
    • By cloud_dog 29th Jan 18, 5:09 PM
    • 3,651 Posts
    • 2,170 Thanks
    cloud_dog
    • #2
    • 29th Jan 18, 5:09 PM
    • #2
    • 29th Jan 18, 5:09 PM
    does anyone have any experience/opinions on which is better for a SIPP...self managed and investing in shares ad ITs...no funds but will hold cash as and when
    Originally posted by lidl 1
    Having recently been converted to them I would suggest Fidelity. But, you need to be comfortable with what they do / do not offer; range of ETFs, ITs, but no shares (I believe)
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • lidl 1
    • By lidl 1 29th Jan 18, 5:19 PM
    • 4 Posts
    • 1 Thanks
    lidl 1
    • #3
    • 29th Jan 18, 5:19 PM
    hl or ajb
    • #3
    • 29th Jan 18, 5:19 PM
    thanks but says FUNDS only
    I am not in funds nor do i wish to be
    • TBC15
    • By TBC15 29th Jan 18, 5:26 PM
    • 452 Posts
    • 211 Thanks
    TBC15
    • #4
    • 29th Jan 18, 5:26 PM
    • #4
    • 29th Jan 18, 5:26 PM
    thanks but says FUNDS only
    I am not in funds nor do i wish to be
    Originally posted by lidl 1
    No Funds? must ask why?
    • ianthy
    • By ianthy 29th Jan 18, 5:49 PM
    • 110 Posts
    • 60 Thanks
    ianthy
    • #5
    • 29th Jan 18, 5:49 PM
    • #5
    • 29th Jan 18, 5:49 PM
    I can't comment on HL but I have been with AJ Bell for 10+ years in their You Invest SIPP. I suspect I could get cheaper fees but I like the site and the app works pretty well too. Plus my OH also has a SIPP with AJB too and I can administer it via one access point. Their reports - portfolio xray are good but I also use Trustnet for research too.
    • LHW99
    • By LHW99 29th Jan 18, 5:53 PM
    • 1,247 Posts
    • 1,139 Thanks
    LHW99
    • #6
    • 29th Jan 18, 5:53 PM
    • #6
    • 29th Jan 18, 5:53 PM
    HL & AJBell both run good sites. You can buy shares / IT's and probably ETF's on both, though check the range they offer.
    HL has more analysis / tools available, but you will get a lot more marketing bumph from them than AJ Bell.
    Can't say much on their comparative charges, as I have only had a combination of funds & IT's with either.
    • mgdavid
    • By mgdavid 29th Jan 18, 6:30 PM
    • 5,517 Posts
    • 4,820 Thanks
    mgdavid
    • #7
    • 29th Jan 18, 6:30 PM
    • #7
    • 29th Jan 18, 6:30 PM
    How do Charles Stanley Direct (CSD) compare to the two you've already mentioned?
    The questions that get the best answers are the questions that give most detail....
    • cloud_dog
    • By cloud_dog 29th Jan 18, 7:48 PM
    • 3,651 Posts
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    cloud_dog
    • #8
    • 29th Jan 18, 7:48 PM
    • #8
    • 29th Jan 18, 7:48 PM
    thanks but says FUNDS only
    I am not in funds nor do i wish to be
    Originally posted by lidl 1
    Unsure of your definition of 'funds', but I'm in the process of transferring a SIPP to Fidelity to be invested primarily in ITs or ETFs if appropriate.

    10 dealing charges and 45pa platform charge.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • DairyQueen
    • By DairyQueen 29th Jan 18, 8:06 PM
    • 228 Posts
    • 377 Thanks
    DairyQueen
    • #9
    • 29th Jan 18, 8:06 PM
    • #9
    • 29th Jan 18, 8:06 PM
    I manage SIPPs on both platforms. HL has a more sophisticated interface for a non-expert investor but AJ Bell is absolutely fine (and their x-ray facility is very good). HL's customers service is excellent but I have no complaints about AJ Bell (just not not as professional and efficient).

    The charges are very different so I suggest you check-out snowman's excellent spreadsheet to compare for your size/type of portfolio.
    • TcpnT
    • By TcpnT 29th Jan 18, 8:16 PM
    • 107 Posts
    • 60 Thanks
    TcpnT
    Depending on the amount invested HL charges for Shares, ETFs and ITs are much less than their charges for holding OEICs
    • redux
    • By redux 29th Jan 18, 10:52 PM
    • 17,994 Posts
    • 23,596 Thanks
    redux
    Having recently been converted to them I would suggest Fidelity. But, you need to be comfortable with what they do / do not offer; range of ETFs, ITs, but no shares (I believe)
    Originally posted by cloud_dog
    As discussed on your earlier thread about this, coming soon.

    There might be something like FTSE 100 shares quite soon and FTSE All Share index shares in 2 or 3 months, which isn't actually all shares (find a list somewhere), but includes most though not all investment trusts.

    And I can still find stuff on their website that has 0.1% dealing within the SIPP. Whether this will soon change, or already has and they've left behind a couple of old pages, I'm not sure.

    Depending on the amount invested HL charges for Shares, ETFs and ITs are much less than their charges for holding OEICs
    Originally posted by TcpnT
    Same goes for other platforms, including those mentioned on the thread.
    • lidl 1
    • By lidl 1 30th Jan 18, 10:50 AM
    • 4 Posts
    • 1 Thanks
    lidl 1
    replying to all though not in any particular order
    I went to Fidelity web pages and it says no shares or ITs.......has it changed?
    HL appear to charge 200 a year for shares platform AJ Bell are 100...........though both presumably can change costs at drop of a hat
    I do not want to be inundated with corporate bumf or constant pressures to be a 'bigger' customer
    I have been with AJBell sippdealextra which they now closing so ave to move
    AJBell service on sippdealextra was awful, mistakes and late statements hence reservations about staying with them
    but.....
    • BLB53
    • By BLB53 30th Jan 18, 12:24 PM
    • 1,245 Posts
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    BLB53
    I can recommend AJs Youinvest sipp having been with them now for just over a decade. Why would you pay 200 to HL when you can get the same options from AJ for 100?
    If you choose index funds you can never outperform the market.
    If you choose managed funds there's a high probability you will underperform index funds.
    • cloud_dog
    • By cloud_dog 30th Jan 18, 1:28 PM
    • 3,651 Posts
    • 2,170 Thanks
    cloud_dog
    I went to Fidelity web pages and it says no shares or ITs.......has it changed?
    Originally posted by lidl 1
    Have a look at this Fidleity page, which allows you to view the options for funds (OIECS), which I know you are not interested in, ITs, and ETFs (which you might be).

    As redux points out...

    There might be something like FTSE 100 shares quite soon and FTSE All Share index shares in 2 or 3 months, which isn't actually all shares
    by redux
    A range (or index) of stocks may be available in the near future. I've not been able to find any specific news on this subject but, I am steering clear of individual stocks in the SIPP, and I know Fidelity are in the process of re-working their website.

    I suppose it all comes down to the breadth of what you want to invest in.

    Just for information...I have actually signed up for a YouInvest SIPP recently. I had previously discounted Fidelity because (going back a while) they had a limited number of ITs you could hold but it nows appears to be virtually the full list. The other reason I have chosen to go with Fidelity (other than the low 45 platform charge) is:
    1. I was reminded that AJ Bell can be very immovable on waiving charges/increased charges when they arbitrarily change their pricing structures.
    2. Fidelity do not make a charge when drawing income.
    I will say I found the YouInvest website excellent, with regard to its easy access to information and clarity of information. If it wasn't for the above two points I would have completed my transfer etc to them.
    Last edited by cloud_dog; 30-01-2018 at 1:31 PM.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • ducatidemon100
    • By ducatidemon100 30th Jan 18, 1:54 PM
    • 14 Posts
    • 4 Thanks
    ducatidemon100
    SIPPs
    does anyone have any experience/opinions on which is better for a SIPP...self managed and investing in shares ad ITs...no funds but will hold cash as and when
    Originally posted by lidl 1
    Hi - The Telegraph has tables for both SIPPs and ISAs (and Child SIPPs) which shows the best value. Of the two you list, I have experience only of HL. Their website is good - you can get the dealing history for each holding very easily (unlike Bestinvest, whom I would avoid). They offer regular investment, but perversely only if you specify an amount per holding per month (ie they do not let you choose a percentage of cash held). This means that dividends not re-invested (below 10) sit inactive (but can pay fees), but also that the HMRC tax refund is split according to the purchases. This is really OK only if you buy funds (which you do not want). II is better but their new platform will only use DRIP if dividends are in sterling. Other currency dividends are now held in the currency paid in, which is frankly both tedious and annoying. iWeb is good, but do not offer regular investment. HTH.
    • redux
    • By redux 30th Jan 18, 2:28 PM
    • 17,994 Posts
    • 23,596 Thanks
    redux
    Hi - The Telegraph has tables for both SIPPs and ISAs (and Child SIPPs) which shows the best value. Of the two you list, I have experience only of HL. Their website is good - you can get the dealing history for each holding very easily (unlike Bestinvest, whom I would avoid). They offer regular investment, but perversely only if you specify an amount per holding per month (ie they do not let you choose a percentage of cash held). This means that dividends not re-invested (below 10) sit inactive (but can pay fees), but also that the HMRC tax refund is split according to the purchases. This is really OK only if you buy funds (which you do not want). II is better but their new platform will only use DRIP if dividends are in sterling. Other currency dividends are now held in the currency paid in, which is frankly both tedious and annoying. iWeb is good, but do not offer regular investment. HTH.
    Originally posted by ducatidemon100
    Something to note with fee comparison tables or charts is they are standardised on a certain set of conditions.

    As we see on this thread, some platforms have different charges for funds or for shares including investment trusts, for instance possibly no transaction fees but annual percentage charge on funds, but no annual rate only transaction charges (on new purchase and dividend reinvestment) on shares.

    Thus people mainly looking at investment trusts can find that the comparison isn't representative for them. Usually cheaper.
    • cloud_dog
    • By cloud_dog 30th Jan 18, 3:35 PM
    • 3,651 Posts
    • 2,170 Thanks
    cloud_dog
    Lidl 1, have you used SnowMan's most excellent comparison spreadsheet?. I find it more useful for understanding costs than the platform comparison websites out there.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • redux
    • By redux 6th Feb 18, 7:36 PM
    • 17,994 Posts
    • 23,596 Thanks
    redux
    Both AJ Bell and Fidelity seem to be useless at replying to their online message systems.

    I phoned Fidelity, and he said he would send email confirmation of a couple of points, with other useful links. Nothing came; he didn't phone back 2 weeks later, after asking permission to do so. Online message to say so, and could someone resend confirmations, has been ignored ...

    No better at AJ Bell. A couple of clear questions as an online query. No reply at all. Se t again. No reply twice. Quite useful that someone in this thread answered one of the questions instead ...

    Not very inspiring. You expect them to be busy, but it should be possible to scrape together a reply in 3 or 4 weeks.
    Last edited by redux; 06-02-2018 at 7:39 PM.
    • ianthy
    • By ianthy 7th Feb 18, 5:18 AM
    • 110 Posts
    • 60 Thanks
    ianthy
    Both AJ Bell and Fidelity seem to be useless at replying to their online message systems.

    I phoned Fidelity, and he said he would send email confirmation of a couple of points, with other useful links. Nothing came; he didn't phone back 2 weeks later, after asking permission to do so. Online message to say so, and could someone resend confirmations, has been ignored ...

    No better at AJ Bell. A couple of clear questions as an online query. No reply at all. Se t again. No reply twice. Quite useful that someone in this thread answered one of the questions instead ...

    Not very inspiring. You expect them to be busy, but it should be possible to scrape together a reply in 3 or 4 weeks.
    Originally posted by redux
    I don't choose a platform based on price alone, for me service is one of the most important elements. The AJ Bell platform operates fine for my SIPP transactions - buy and sell. I absolutely agree with you ref their online messaging - it's a hopeless.. no one replies. Maybe its the move to Manchester and they are still settling in but the service from their SIPP Transfer team is nothing short of dreadful. You can't speak directly to the Transfer team, so you need to go thru the CS staff and you can never speak to the same person twice, so always a different answer. Maybe Russ and Andy would like to focus their attention on sorting out their CS.

    Interestingly, I carried out 6 transfers of old ISAS into Vanguard over the last year from various platforms and all completed smoothly. I know its not the same as an SIPP but funds were sold and then deposited and used to buy Vanguard funds. AJ Bell need to sharpen up their CS operations otherwise when Vanguard launches it's SIPP it will be a big looser - just on service alone.
    Last edited by ianthy; 07-02-2018 at 10:00 AM.
    • DairyQueen
    • By DairyQueen 7th Feb 18, 8:48 AM
    • 228 Posts
    • 377 Thanks
    DairyQueen

    No better at AJ Bell. A couple of clear questions as an online query. No reply at all. Se t again. No reply twice. Quite useful that someone in this thread answered one of the questions instead ...

    Not very inspiring. You expect them to be busy, but it should be possible to scrape together a reply in 3 or 4 weeks.
    Originally posted by redux
    Sounds terrible but my experience with AJ Bell couldn't be more different.

    I transferred a DB and DC to them last year and called them twice during the process of each transfer. Phone immediately picked-up and queries answered. No hassle at all. DC transfer went very smoothly. The administrator of the DB transfer-out scheme caused a delay (they parked essential paperwork, forwarded by the IFA, in their in-tray).

    Since then I have contacted AJB once online as I needed to update some personal information. They replied within a day and provided instructions. I sent them the necessary paperwork (via email) and the update was completed and confirmed within a couple of days.

    I can't fault the service I have received so assume that something must have changed in the interim.
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