I'm in an almost identical situation - I just turned 32, have been contracting for a year, don't have a pension currently (have never earned enough to contribute anything worthwhile) and am now looking at my options.
I'd already opened up a Hargreaves Lansdown S&S ISA and have a Vanguard LifeStrategy (80% Accumulation) investment and a Invesco Perpetual High Income investment which I'm drip feeding from my personal income.
I went to my accountants to ask how I go about making company contributions from the LTD company into a SIPP and got put through to their financial arm who of course wanted to sell me their offering (running on top of Aegons platform).
The accountants gave me the following figures as running costs of their SIPP offering;
Platform charge – 0.4%
Fund Manager charge – 0.1% (typical)
Ongoing advice and service charge – 0.25%
...which I sent on to HL for comparison as I was struggling to work out which of the two were better. HL came back and said like-for-like they feel they are more competitive but it's hard to make the decision if I can't get my head around the pounds, shillings and pence cost of operating my fund. I've been looking at pensions for all of five minutes (well a couple of days, around changing nappies so probably not the best time to make these kinds of decisions) but I think where my head is at is that I might stump up the £240 the accountants want for some financial advice, get them to guide me then I'll make a call as to whether to stick with HL or go with Aegon.
I'd already opened up a Hargreaves Lansdown S&S ISA and have a Vanguard LifeStrategy (80% Accumulation) investment and a Invesco Perpetual High Income investment which I'm drip feeding from my personal income.
I went to my accountants to ask how I go about making company contributions from the LTD company into a SIPP and got put through to their financial arm who of course wanted to sell me their offering (running on top of Aegons platform).
The accountants gave me the following figures as running costs of their SIPP offering;
Platform charge – 0.4%
Fund Manager charge – 0.1% (typical)
Ongoing advice and service charge – 0.25%
...which I sent on to HL for comparison as I was struggling to work out which of the two were better. HL came back and said like-for-like they feel they are more competitive but it's hard to make the decision if I can't get my head around the pounds, shillings and pence cost of operating my fund. I've been looking at pensions for all of five minutes (well a couple of days, around changing nappies so probably not the best time to make these kinds of decisions) but I think where my head is at is that I might stump up the £240 the accountants want for some financial advice, get them to guide me then I'll make a call as to whether to stick with HL or go with Aegon.
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