HL or AJBell for a SIPP

2

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  • lidl_1
    lidl_1 Posts: 7 Forumite
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    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
    BLB53 Posts: 1,583 Forumite
    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?
  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    edited 30 January 2018 at 2:31PM
    lidl_1 wrote: »
    I went to Fidelity web pages and it says no shares or ITs.......has it changed?
    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...
    redux wrote:
    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
    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.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • ducatidemon100
    ducatidemon100 Posts: 20 Forumite
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    lidl_1 wrote: »
    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

    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
    redux Posts: 22,976 Forumite
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    ducatidemon100 wrote: »
    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.

    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
    cloud_dog Posts: 6,043 Forumite
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    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 :D

    Sometimes.... I am like a dog with a bone
  • redux
    redux Posts: 22,976 Forumite
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    edited 6 February 2018 at 8:39PM
    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.
  • ianthy
    ianthy Posts: 172 Forumite
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    edited 7 February 2018 at 11:00AM
    redux wrote: »
    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.

    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.
  • DairyQueen
    DairyQueen Posts: 1,822 Forumite
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    redux wrote: »

    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.

    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.
  • redux
    redux Posts: 22,976 Forumite
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    edited 7 February 2018 at 4:06PM
    I now have a response from AJ Bell. I asked about the offer to refund transfer charges. Although it says it is for transfer over £20,000, if 2 schemes are transferred in and one is smaller than that, would that one still qualify for the offer, Answer yes, if in accordance with T&C.

    About the range available at Fidelity, and prompted by a post on the Savings & Investments board here, I found

    From Q1 we are introducing the option to purchase shares as part of our new share dealing service. This will be introduced in stages starting with the FTSE 100 and FTSE 250. FTSE All Share, bonds and international equities will be added in Q2.

    https://www.fidelity.co.uk/ongoing-enhancements

    I phoned and asked if it was possible to throw a bit more light on when in Q2. Possibly May.

    So my dilemma is whether to transfer and have have some uninvested cash for a while, wait before starting the transfer (but this would an annual charge), etc,

    Oh, I forgot to say, the dealing charges in the Fidelity SIPP are still currently 0.1% but will change later in the year to like their ISA and ordinary share schemes.
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