Aegon platform pension (SIPP)

[Salted_Peanut]

Talk to me about SIPPs.

I have been recommended an Aegon pension platform. It has an “initial advice and implementation” fee of £700, plus a base charge for using the platform is 0.25%, as well as a 0.5% charge as an ongoing advice fee. What do you think? And are there alternatives I should consider?

[Condi]

Intelligent Money, PH sponsors? No doubt Nick or Julian will be along shortly, but see sticky.

[xeny]

Salted_Peanut said:

Talk to me about SIPPs.

I have been recommended an Aegon pension platform. It has an “initial advice and implementation” fee of £700, plus a base charge for using the platform is 0.25%, as well as a 0.5% charge as an ongoing advice fee. What do you think?

I think those fees may not be the whole story. Look at https://digital.feprecisionplus.com/documents/aego...

That's fundsmith equity, which they're charging 2.04% for. As a retail fund it is available for .95% - they seem to be adding getting on for 1.1% when they resell it.

[rsbmw]

My work scheme is through Aegon, self managed. The platform is pretty terrible, it takes several days for any trade to settle so it's impossible to capitalise on any market dips. I appreciate most people probably wouldn't trade equities in a pension but it's been a pain in the arse for me this past year.

[covmutley]

Mine is with bestinvest. The platform is easy to use and I haven't had any problems

[Zigster]

Salted_Peanut said:

Talk to me about SIPPs.

I have been recommended an Aegon pension platform. It has an “initial advice and implementation” fee of £700, plus a base charge for using the platform is 0.25%, as well as a 0.5% charge as an ongoing advice fee. What do you think? And are there alternatives I should consider?

My SIPP is with Fidelity. There were no initial fees, the “service fee” is 0.2% pa and there is no ongoing “advice fee” (because it’s non advisory).
So I’d question what you would get from Aegon compared to Fidelity for the extra annual costs.
(I’ve no experience or knowledge of Intelligent Money.)

[Rocket.]

rsbmw said:

My work scheme is through Aegon, self managed. The platform is pretty terrible, it takes several days for any trade to settle so it's impossible to capitalise on any market dips. I appreciate most people probably wouldn't trade equities in a pension but it's been a pain in the arse for me this past year.

^This and same here, currently using HL for my SIPP not perfect but miles better than Aegon.

[Salted_Peanut]

Thanks everyone! It looks like a 'no' to this Aegon platform and fees.

I have now seen a useful ranking and rating from The Times Money Mentor: https://www.thetimes.co.uk/money-mentor/investing-...