Spec Inves Prop Share Discussion Threads

[yellow_snow] 28/7/2010 16:10

To anyone monitoring the sipp threads - I'm looking at Sippdeal, are there any issues with them and do they deal the smaller, specifically AIM, companies?
Cheers

[yellow_snow] 28/7/2010 16:09

To anyone monitoring the sipp threads - I'm looking at Sippdeal, are there any issues with them and do they deal the smaller, specifically AIM, companies?
Cheers

[hangthedj] 28/4/2010 12:07

I have a few FPM shares in my SIPP and they've just announced a rights issue which I intend taking up.
My question is, in order to pay for my rights issue is it simply a case of paying for them using cash from within my online SIPP account.

Thanks in advance.

[isis] 14/4/2010 11:31

I've been using Sippdealxtra for 2 years now and have had no complaints.
You can set your broking account up with Selftrade and a flat fee of £12.50 phone or web and the annual charges are less than £200- on over £50k with Sippdeaxtra.
It is false economy to have low or no charges and then pay more for your deals or have less choice of Market Maker.

Penny Wise, Pound Stupid, as they say.

[scotsman2] 14/4/2010 11:18

I am also looking at moving from H&L due to fees. When I started out I thought they would be fine but have been trading more than I thought and it soon adds up !

[envirovision] 14/4/2010 11:14

Thanks for your views, FWIW i really feel Hargreaves charges are far to high. If your pensions is worth half a million and you dont trade often then its the bargain of the century.

Sadly in reality for the vast majority of us with say 150K value or less who have a diverse spread and trade every few months or more, its a total rip off.

I may look into switching into sip deal, providing the HL transfere costs are not to high. Has anyone any experience of transfering away from Hargreaves?

[scotsman2] 14/4/2010 11:05

anyone use moneycorp markets trader, am on a a 30-day free trial just now. seems OK

[imastu pidgitaswell] 13/4/2010 12:24

Re charges - I also use Hargreaves Landsdowne, and pay the same charges.

I think you have to consider the alternatives, and also compare like with like. The annual charges (£200 a year is the maximum, below that it's a percentage of the pot - so when you get your fund to 1m(!) it will still be a £200 charge) are still way cheaper than anyone's bog-standard 'unit' style pension pots, which are anything from 1-2% a year (£500-£1000 for a £50k fund.) Then there's the initial fee of anything up to 6% - nothing for the HL SIPP.

It's the transaction costs that hurt, in that you pay buying and selling costs, stamp duty and a spread. In a fund, you don't see those, they are part of the 1-2%.

But on the other hand, you don't have to buy and sell - you (and I) are choosing to, in order to make good capital gains. As a percentage of the capital movements, the transaction charges are not so great - the same as for any share dealing, and in fact amongst the cheapest. If you made no trades, the cost would be £200 which is 0.4%.

Looked at like that - the annual charges and the transactions charges separately and comparing with the alternatives, it's only really the transaction charges that can be reduced - you can get lower, but not much, and I'd rather be with the biggest (safest?) one around. Not to mention the six bloody months of aggro getting my previous pension (Money Purchase Scheme from an ex-employer) to transfer the damn pot to HL - I don't fancy going through all that again...

[scotsman2] 13/4/2010 10:32

anyone trade Forex in their SIPP ? I see moneycorp and ODL allow you to do it..

[call-logger] 29/3/2010 23:07

Here's the blurb from my provider https://www.sippdeal.co.uk/

Why choose Sippdeal?

Here are just 5 good reasons -
Online dealing is just £9.95 per deal
Free to setup
No charge for SIPP annual administration
Over 1,800 funds to choose from and over 1,500 have no initial charge
Free to make contributions and transfers in

It does cost £30 to deal by phone

More from the charges page https://www.sippdeal.co.uk/charges.aspx

Establishment & administration
When you establish your SIPP Nil
SIPP annual administration Nil
If you pay a single contribution Nil
If you pay a regular contribution Nil
If you transfer in from another registered pension scheme Nil

There are charges for taking benefits and transfers out


It used to cost £15 for deals more than £500 and there used to be a setup and/or transfer charge of £50 so they've been reducing their charges recently

[envirovision] 29/3/2010 22:48

Hello I have just found this thread. I've had a sipp for just over a year with Hargreaves Lansdown, i've got a smallpart in a protected rights from an old abbey serps account and the rest in a non protected portfolio. The whole portfolio is worth just over fifty thousand now and has done ok thanks to an array of stocks that i've selected and traded in and out of over the year.

However after reviewing the account, i am horrified by the charges. I am currently paying them around £20 per month in adminisration fees just for doing nothing, how they can justify this is beyond me. To-boot, if I want to make a trade I find they are charging me well over £20 for making a simple online average trade. If I want to do something I cant do online like sell my converted lloyds pref shares, they are taking £50 off me over the phone.

All in all its fast approaching 5% of the total worth of my portfolio and this is my retirement they are helping themselves to.

To be frank, I feel thoroughly ripped off. So i am wondering if it would be wise to transfer to anouther provider.

Has anyone suffered what I am finding and found a reasonable solution?

[isis] 23/3/2010 18:36

I use Sippdeal Extra with Selftrade and they definitely do as I've seen the trades go through.

Hargreaves are more expensive for trades.

[elano 11] 23/3/2010 18:22

Cheers Guys

I already asked Sippdeal and Hargreaves Lansdown, and these were my responses:

Dear elano

Thank you for your email.

I can confirm that we are able to offer investment into AIM listed shares, but unfortunately not the Plus market.


Kind regards

Hargreaves Lansdown Asset Management

and from Sippdeal...

Dear elano

Thank you for your e-mail.

We do offer shares on the AIM market but not the PLUS market. We do not offer unquoted or unlisted shares as permitted investments.

If I can be of any further assistance, please do not hesitate to contact me.

Yours sincerely

Client Management Team



That's the reason I asked here; I will now email selftrade and make sure they do offer Plus market with their Sipp

[isis] 23/3/2010 08:13

Actually it maybe a stupid question in the first place as I believe they all use Plus Markets.

[call-logger] 22/3/2010 21:48

As far as I can make out, Sippdeal BogStandard also deals in PLUS shares so long as they are CREST-settleable. Don't know whether that excludes most of the companies or not as I've never tried.

£9.95 a trade, no annual fee, no complaints

[isis] 22/3/2010 21:23

Elano _ i use Sippdeal Extra which lets you use Selftrade which are one of the cheapest and best on-line brokers £12.50 a trade. imo
They use both LSE and Plus Markets. Sippdeal Extra charges about £200- a year in fees - one of the cheapest around also.

Never had any problems with them. Some make you use their own Brokers and works out very costly - believe me you'll trade much more than you think you will and it soon mounts up if you have a high commission broker.

[elano 11] 22/3/2010 21:15

Anyone know of any Sipp provider that offer shares on the PLUS market?

tia

elano

[hangthedj] 03/2/2010 19:04

Ok, thanks for the replies.
I've decided to use EPML as charges seem compatible and I already use selftrade.
Now for the paperwork for transferring my two existing pensions into a SIPP but sure it'll all be worth while.

The up to date transfer values of both pensions are more than I had originally anticipated and feel really happy that I can actually get these funds (£40k approx.)into a SIPP dealing account and trade as I please with it.

I'm actually going to stop contributions as I've come to the conclusion that there's no great advantage (as a basic rate tax payer) paying into a SIPP when an ISA offers greater flexibility.SIPP offers tax relief on contributions but takes it away on retirement.

Anyone got strong opinion on SIPP or ISA for basic rate taxpayer?

[badtime] 01/2/2010 22:39

Hang...yes they will help and lump the 2 together for u...y not give a provider a buzz..ive found sippdeal really helpful..jus cos u ring them and pick ther brains doesnt mean u need to go with them...although i wud recomend u do..ther charges I believe r competitive for the sums u hav to invest

imho

[minfeus] 01/2/2010 17:40

Hi There
I use Transact {https://www.transact-online.co.uk} which is administered by a London based financial advisor {www.evans-hart.co.uk} which used to administer the pensions of a company I worked for some years ago. The company was subsequently bought out and this coincided with the release of SIPP's and I figured it a good idea at the time.
Evans Hart did all the set up, you have input as to the investments you want to have in it and they will do the rest {for fees of course}.

Best thing about SIPP's is that you cannot moan about the performance of your pension if you are the one who has chosen the investments therein

[hangthedj] 01/2/2010 17:24

I have two existing personal pensions which I would like to transfer to a new SIPP and take control of my investment decisions.

The first pension is with Standard Life and I haven't contributed to this plan for over 18 years but has a transfer value quoted as £12k approx.This pension was taken out when I contracted out of SERPS and I believe this is a "protected rights" pension.Contributions stopped as I have been self employed for the last 18 years.

Current pension is with NPI/Pearl and has a quoted transfer value of £22k approx. This is a straight forward with profits self employed retirement plan to which I make regular monthly contributions.

Can I simply arrange for both of these policies to be transferred to a new SIPP and have an initial fund of £34k with which to purchase allowable shares etc. of my choice within SIPP guidelines.
Will the Sipp trustee arrange or at least help with the transfer from my existing pension providers or is it simply a case of writing to Standard Life and NPI asking for details on how to transfer these funds to a SIPP.

Any help would be much appreciated.

Thanks.

[nicd] 16/1/2010 16:40

I have used Sippdeal for some time now and can highly recommend their trading desk. Very efficient, quick to answer the phone, any problems with online trades and they phone you. At £9.95 an online trade, no matter what size.

Can set limit buy or sale.

I havent yet used the drawdown, but expect to shortly.

But, its vanilla shares and ETFs only, no CFDs.

You can short things like gold and Footsie by buying short ETFs.

Nic

[thedickster] 16/1/2010 16:01

No ability for shorting there Skyship with sippdeal?

MF Global , UK Subsid GNITouch looks good for the ability to leverage and long short with CFDs

[skyship] 16/1/2010 11:03

chrisis33 - since Sippdeal recently underwent a major efficiency review, cut dealing costs and improved their dealing service, they are once again the best SIPP-show in town: