Vanguard to launch UK's cheapest SIPP
Discussion
Can't wait. I'll be transferring as much out of my Hargreaves Lansdown SIPP as I can without it being shut down. (Unfortunately my company will only pay contributions to HL) Hopefully HL will wake up to the fact that they are taking the p1ss on their platform charges, which in some cases is double what I'm paying for the actual funds !!
forest172 said:
you have to open a new account with a new username and password for your SIPP
Would have been easier if all under one account. Obviously it can`t be
Do you? If you log in, click My Accounts, and Open New Account it doesn't seem like you need a new username/password. (With the caveat that I haven't fully completed the process yet.)Would have been easier if all under one account. Obviously it can`t be
K12beano said:
5pen said:
Interesting.
0.15% per year capped at £375.
That's misleading - next to the big figures it doesn't say that 0.15% is payable every year.....0.15% per year capped at £375.
Still excellent value, but I agree, the big 0.15% figure for the SIPP is quite misleading (edited to add - particularly given these additional fees are not capped at all).
Edited by JulianPH on Wednesday 19th February 12:01
forest172 said:
you have to open a new account with a new username and password for your SIPP
Would have been easier if all under one account. Obviously it can`t be
No you don't. I have my ISA with Vanguard and have just opened/transferred into a new Vanguard SIPP and it is all under the same existing account. Would have been easier if all under one account. Obviously it can`t be
Both show up on my homepage under my portfolio. Was very easy to do.
JulianPH said:
You also have to factor in the fund costs and transaction charges, which averages 0.41% for LifeStrategy and 0.44% for Retirement funds.
Still excellent value, but I agree, the big 0.15% figure for the SIPP is quite misleading.
To be clear, the 0.41-0.44% you quote is the total cost including the 0.15% platform fee. The fund charges are 0.22-0.24% and the transaction costs are 0.02-0.06%.Still excellent value, but I agree, the big 0.15% figure for the SIPP is quite misleading.
Source: https://www.vanguardinvestor.co.uk/content/documen...
Asking for a friend: he has a SIPP with HL which contains a number of funds, one of which is LifeStrategy 80. If he opens a SIPP with Vanguard is there a section in the transfer process which would allow him to do an in-specie transfer of just the LS funds & leave the other funds with HL? Can you define which funds get moved over - I know if you transfer them all they will move the LS as in-specie & cash out the others but can you specify which funds are moved?
JamesD74 said:
No you don't. I have my ISA with Vanguard and have just opened/transferred into a new Vanguard SIPP and it is all under the same existing account.
Both show up on my homepage under my portfolio. Was very easy to do.
strange I tried to do that when I was logged in and it told me to create a new usernameBoth show up on my homepage under my portfolio. Was very easy to do.
sorted:- So while logged in it`s important you choose open new account on left hand side. I was logged in and tried to do it from the top menus under "what we offer" then it tries to open you a new account completely
Edited by forest172 on Wednesday 19th February 12:58
webstercivet said:
JulianPH said:
You also have to factor in the fund costs and transaction charges, which averages 0.41% for LifeStrategy and 0.44% for Retirement funds.
Still excellent value, but I agree, the big 0.15% figure for the SIPP is quite misleading.
To be clear, the 0.41-0.44% you quote is the total cost including the 0.15% platform fee. The fund charges are 0.22-0.24% and the transaction costs are 0.02-0.06%.Still excellent value, but I agree, the big 0.15% figure for the SIPP is quite misleading.
Source: https://www.vanguardinvestor.co.uk/content/documen...
I still stand by my two points though. This is still exceptional value, but it is not the headline 0.15% a year when the other costs are factored in.
And, of course, ^^^ this shows the problem (absolutely NO criticism Julian) ....
....in trying to appeal to a mass market, it’s never really obvious and clear to the new punter what they are buying and what they are paying ...
(I don’t have an answer, just that this is what puts too many people off getting stuck in...)
....in trying to appeal to a mass market, it’s never really obvious and clear to the new punter what they are buying and what they are paying ...
(I don’t have an answer, just that this is what puts too many people off getting stuck in...)
JulianPH said:
Sorry I thought I had made it clear I was referring to the total costs, reading back I agree this was not as clear as intended.
I still stand by my two points though. This is still exceptional value, but it is not the headline 0.15% a year when the other costs are factored in.
No worries! Agree it's good value.I still stand by my two points though. This is still exceptional value, but it is not the headline 0.15% a year when the other costs are factored in.
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