SIPP Recommendations

[Dr_Gonzo]

I currently have a pension with the Pru which I'm looking to move in to a SIPP as the current charge is far too high (2.75%) and I would like the freedom to look after my money myself.

I'm looking for a low annual cost provider with access to a decent range of funds etc. I won't be trading very often (probably only a few times a year) so very-low trading charges aren't that important.

Could anyone recommend a decent SIPP provider (given the recent changes with charges in a few of the main providers)?

Thanks,

The Doctor

[Jockman]

Why do you need a SIPP and its associated charges?

Why not convert it to a personal pension and choose your own funds on a decent Platform ??

[Zigster]

FWIW, I'm looking at a SIPP at the moment to consolidate some of my legacy pension plans from previous employers. I have quite a lot of ISAs on Fidelity's platform so thought a SIPP with them might be a good idea. The sums of money are enough to be worth playing with but not so much that my retirement plans are scuppered if I make a pig's ear of it (which most amateurs do)

I spoke to Fidelity about it - and it seems to be more like a personal pension with access to lots of funds than a SIPP (where I understand a SIPP to allow much more direct access to individual stocks and so on).

[Ginge R]

I'm with Jockman - focus on the wrapper first and foremost - not the product. When you've grown sufficient wealth, then look at justifying an pricier pension with which to possibly indulge some gratuitious and esoteric sex 'n violence investing. Until then, keep it simple - if you like Vanguard passives, this might be of interest. Vanguard charges SDRT seperately, very laudable. The reason it's important is that it's vital to keep a close eye on the overhead (something which a SIPP has in spades) and NOT 'just' fund performance.

https://www.gov.uk/government/uploads/system/uploa...

[Ozzie Osmond]

I'm confused....

A SIPP is the current most popular and cheapest to run form of personal pension.

As a DIY investor it's worth looking at the SIPP offerings from both Fidelity and Hargreaves Lansdown.

[NicD]

I have been with SippDeal since they opened, no complaints. Low fees, all online.

[technogogo]

Worth considering iii.co.uk. I have had a SIPP with them for a few years, along with an ISA and am very happy with service and execution.

[Jockman]

Ozzie Osmond said:

I'm confused....

A SIPP is the current most popular and cheapest to run form of personal pension.

As a DIY investor it's worth looking at the SIPP offerings from both Fidelity and Hargreaves Lansdown.

Yup no problem with that Ozzie - the low cost SIPPs are much more competitive than the bespoke ones, though I'm not sure I'd put HL in that bracket until we've seen their new charging structure.

To my mind though, why bother? There is no real added value over a straightforward wrap on a platform with, say, Transact? If you want a more sophisticated investment vehicle for, say, putting property into your pension then a SIPP is certainly worth considering so long as you are aware of the higher charges.

If OP has his mind set on a SIPP then, hey, go for it

[ringram]

H&L is to be avoided for fund purchases.
For stocks and shares its ok, they reversed their rip off investment trust ad valorum fee's too.

Lucky for them else Sippdeal was next choice.

Go for a fixed fee provider IMO.

[aka_kerrly]

Worth noting that because a SIPP is marketed at low cost depending on the functionality required, range of asset types/fund choices, dealing charges and additional reporting there are often cases when a full fat SIPP might be in order.

Also take note of features like the share classes available, some platforms allow investors into institutional class shares which often have lower annual management fees than retail/clean classes. Then consider that there is more to life than the pension provider's annual management fee, don't be fooled by low headline rates if transactions cost £10+ for OEIC/unit trust purchases as well as equities (often £25+ or %based)

[Dr_Gonzo]

Thanks for all the replies so far.

I can now see that it don't necessarily need a SIPP, just a low-cost 'wrapper' that allows me to choose what I can invest in.

So far I've narrowed it down to:

Hargreaves Lansdown
SIPPDeal (Youinvest)
Fidelity SIPP
III
Alliance Trust Select SIPP

Are there any others I should consider?

And does anyone have any strong opinions (either way) on any of these?

Thanks,

The Doctor

[GoneBananas]

My SIPP is with Charles Stanley and I'm very pleased with it.