The Lemon Fool

Hi

I have a 400K PPP which I am contemplating moving to a SIPP, I am unsure if I will be using the services of an IFA, still undecided. I have 30K spare in my Ltd company and instead of paying into my current PPP I was thinking of opening a SIPP as a DIY starter and reviewing my performance before making the decision to go 100% DIY with my 400K pot.

I am not a fan of % charges, so I am leaning towards fixed price SIPPS, Interactive Investor is looking favourite at the moment. Anyone else using II or similar fixed price SIPPS. I could be 4 - 5 years away from drawdown and my strategy for investment is still WIP.

Regards

John

John,

I have used Alliance Trust SIPP for the past few years, which has a fixed fee. So far no problems. I moved transferred the SIPP from AJ Bell and all worked speedily.

Lets us know how you get on.

Hardgrafter

Hardgrafter wrote:John,

I have used Alliance Trust SIPP for the past few years, which has a fixed fee. So far no problems. I moved transferred the SIPP from AJ Bell and all worked speedily.

Lets us know how you get on.

Hardgrafter

Ditto! (I didn't want to move to II.)

And as I hold only ITs and shares, I only pay a 0.25% platform fee which is capped at £100 - whereas I was paying ATS £252 a year as a fixed charge.

Best wishes

Mark.

ADrunkenMarcus wrote:

Hardgrafter wrote:John,

I have used Alliance Trust SIPP for the past few years, which has a fixed fee. So far no problems. I moved transferred the SIPP from AJ Bell and all worked speedily.

Lets us know how you get on.

Hardgrafter

Ditto! (I didn't want to move to II.)

And as I hold only ITs and shares, I only pay a 0.25% platform fee which is capped at £100 - whereas I was paying ATS £252 a year as a fixed charge.

Best wishes

Mark.

Mark, who are you with? ATS is £252.00 a year based on current prices,

segovia123 wrote:I am not a fan of % charges, so I am leaning towards fixed price SIPPS, Interactive Investor is looking favourite at the moment. Anyone else using II or similar fixed price SIPPS.

I have SIPPs with both II and ATS. II will be taking over ATS later this year, so at some point I guess they will merge.

Overall, I'm happy with both of them. That said, I use only tracker funds and am not contributing to either SIPP, so in a sense I have no need of anything other than a 'parking place' for my pensions. I have however saved multiple £thousands over the years by using them rather than YouInvest or the exceptionally pricey (at retirement-levels of SIPP) Hargreaves Lansdown. I can certainly tolerate a few rough edges for that. Both execute trades on time, provide statements and contract notes, and generally do all the things you want from a platform. Sometimes with snail-mail rather than online (for example, when entering drawdown), but nothing too onerous.

segovia123 wrote:Mark, who are you with? ATS is £252.00 a year based on current prices,

I did exactly as Hardgrafter and went to A. J. Bell.

Best wishes

Mark.