Low cost Personal Pension reccomendations
Discussion
Hey guys,
PH seems to be a great font of knowledge in most walks of life, so I thought I might try a personal finance question.
Any suggestions as to where I could dump a lump sum into a global equity tracker with low AMC as a personal pension? Would probably follow up with monthly payments in next tax year. Highly disappointed with any discussions I've had so far.
Know Hargreaves have the best regarded SIPP but fees pushing 2% and mostly managed funds. Spoke to one IFA with a very glitzy product and not unreasonable fees but all in Hedge funds with varying shades of awful performance. How the heck could you live with yourself if you ran a 'recovery' fund that was up only 2% in the last 12m?! Another suggested a big scottish fund with admittedly decentish low life time costs, but all of it up front. Null points to him for thinking I might not notice that the 0.5% extra charged in the first 5 years was PER MONTH!!
Don't understand why we shouldn't be able to dump money into a lifecycle fund that varies equity/FI split with age and tracks global indices with an extremely low fee, thru a moneysupermarket style cost comparison rather than having to listen to incompetent IFAs tell you everyone except them will try to rip you off before trying to do exactly that...
Any thoughts, observations, PMs gratefully received!!
PH seems to be a great font of knowledge in most walks of life, so I thought I might try a personal finance question.
Any suggestions as to where I could dump a lump sum into a global equity tracker with low AMC as a personal pension? Would probably follow up with monthly payments in next tax year. Highly disappointed with any discussions I've had so far.
Know Hargreaves have the best regarded SIPP but fees pushing 2% and mostly managed funds. Spoke to one IFA with a very glitzy product and not unreasonable fees but all in Hedge funds with varying shades of awful performance. How the heck could you live with yourself if you ran a 'recovery' fund that was up only 2% in the last 12m?! Another suggested a big scottish fund with admittedly decentish low life time costs, but all of it up front. Null points to him for thinking I might not notice that the 0.5% extra charged in the first 5 years was PER MONTH!!
Don't understand why we shouldn't be able to dump money into a lifecycle fund that varies equity/FI split with age and tracks global indices with an extremely low fee, thru a moneysupermarket style cost comparison rather than having to listen to incompetent IFAs tell you everyone except them will try to rip you off before trying to do exactly that...
Any thoughts, observations, PMs gratefully received!!
Have a look at using a wrap provider called Transact. www.transact-online.co.uk The website is not the fanciest but it works. You can only use it through an IFA so you need to find one that uses it.
I use it myself for my SIPP, ISA's as well as holdings of shares, bonds and commercial property investments outside those vehicles. You can hold all these asset classes in and out of tax efficient vehicles like ISA's and SIPP"S. Indeed you can transfer assets between your SIPP, ISA etc as long as they are qualifying. You can also by ETF's from people like iShares in your SIPP which have no upfront fees or management fees like a managed fund. In my SIPP I do have managed funds but I also own iShares so have exposure to S+P 500, FTSE and Euro indexes through them. The fees are not exhorbitant and I think they are pretty much the most flexible people around when it comes to the assets you can hold....I work in the financial markets and have put them through the hoops to buy some very esoteric assets in my SIPP which they have been great with.
I did quite a lot of work on this as I was fed up of not being able to manage my pension easily. I think they pretty much have every fund from every fund management group you can think of on the platform.
You can also negotiate with your IFA on the fees for investments. For example when I buy iShares or shares that I want to buy myself I pay a different fee (i.e. virtually zero to my advisor) than when I buy funds that they recommend.
Feel free to PM me if you have a specific question...it's a big subject!
I use it myself for my SIPP, ISA's as well as holdings of shares, bonds and commercial property investments outside those vehicles. You can hold all these asset classes in and out of tax efficient vehicles like ISA's and SIPP"S. Indeed you can transfer assets between your SIPP, ISA etc as long as they are qualifying. You can also by ETF's from people like iShares in your SIPP which have no upfront fees or management fees like a managed fund. In my SIPP I do have managed funds but I also own iShares so have exposure to S+P 500, FTSE and Euro indexes through them. The fees are not exhorbitant and I think they are pretty much the most flexible people around when it comes to the assets you can hold....I work in the financial markets and have put them through the hoops to buy some very esoteric assets in my SIPP which they have been great with.
I did quite a lot of work on this as I was fed up of not being able to manage my pension easily. I think they pretty much have every fund from every fund management group you can think of on the platform.
You can also negotiate with your IFA on the fees for investments. For example when I buy iShares or shares that I want to buy myself I pay a different fee (i.e. virtually zero to my advisor) than when I buy funds that they recommend.
Feel free to PM me if you have a specific question...it's a big subject!
Gassing Station | Finance | Top of Page | What's New | My Stuff