SIPP recommendations please

[IR35 Avoider]

I went with Sippdeal (not SippdealExtra which is something different) because they are cheapest for me. I invest in investment trusts or ETFs, but not unit trusts/OEICS. I don't know if Hargreaves are any cheaper for unit trusts.

The trading platform is a bit simple, but as I intend to only make one trade per quarter, it's not a big deal.

I suspect that Alliance Trust may now be the cheapest for unit trusts, they are definitely one of the options that should be checked.

Who is cheapest for unit trusts will come down to who rebates the most commission that fund managers pay them out of the fund management charges. I may be mistaken, but I think Alliance trust were going to offer an option where they rebated all commission.

If I were to invest exlusively in unit-linked funds I would use a Legal & General stakeholder, provided it's opened via a discount Broker like Cavendish online you can get fund management charges down to 0.5% a year. How many bond or property unit trusts charge that little? Of course the variety of funds available is less, but my investment philosophy only requires about three different kinds of funds to be available to me.

Edit: Just checked, Alliance trust claim to rebate 100% of commission.

http://www.alliancetrust.co.uk/allia...selectsipp.htm

[moorfield]

Work out where you are likely to be putting your money first and compare charges.

For me I went Sippdeal because I am investing LTBH directly in shares and they (unlike HL) have zero charge for their nominee service.

[DonkeyRhubarb]

Hargreaves Lansdown are one of the cheapest, particularly if you intend to invest in funds (UTs and OEICs) rather than individual stocks. They don't charge commission on fund purchases or sales, and in most case they discount most, if not all, of the fund managers' upfront fees. I know loads of people who have SIPPs and ISAs with them and I've never heard any complaints.

I have a small SIPP with Sippdealxtra, with Selftrade as the nominated broker. I chose them because I wanted to "play" the stock market. Their dealing fees for individual stocks are a bit lower than HL, and IMO their dealing platform is a little bit better. But frankly there's not much in it.

To be honest, the most crucial decision is (just as with ISAs) not which SIPP wrapper you go for, but what you stick in it. IMO, this is where you should concentrate your research.

[pmeswani]

Hi peeps!

I'm thinking of setting up a SIPP.
I see some ppl are using Hargreaves Lansdown.
I was wondering if anyone had experience with any others
(e.g. Interactive Investor )

Thanks!
ds

III had some bad publicity on its own forums when some people tried to buy and sell HBOS shares (and others from what I can recall), therefore leaving their investors in the lurch. I originally considered III as an option, but got persuaded to go to Hargreaves & Lansdown. I don't know if III are the cheapest, but I'm glad I am not with III.

[dehydratedskulls]

Hi peeps!

I'm thinking of setting up a SIPP.
I see some ppl are using Hargreaves Lansdown.
I was wondering if anyone had experience with any others
(e.g. Interactive Investor )

Thanks!
ds