Dentalfloss
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naz: how much did you take them forNaz said:
SIPP Providers - Anyone found a good one?
My SIPP has for a number of years been with SippDeal. Their administration is relatively inexpensive and efficient but their investment choice (even with SippDeal Extra) is very limited and expensive.
The time has come to change but there is a bewildering choice of providers (sharks) in the market (sea).
What I am looking for is:-
1. To be able to invest via CFDs in a wide range of US stocks. Reason:- leverage and to be able to go short. IG Markets goes down to a market cap of $500m (not quite far enough for me) but even if it was their commission rate is grotesque (4c per share, no maximum). GNI goes down to $10m and their rate is lower than IG. So far so good, GNI looks like the broker to use for US Stocks.
2. I want to invest a portion of my fund in futures - again GNI can assist there. Berkeley Futures can offer a good range but their commission is simply too high.
3. The real problem comes with finding the right trustee / provider. They are either inexpensive but with inadequate investment coverage (eg Hargreaves Lansdowne & SippDeal) or grossly overpriced with good investment choice (make your own list!)
Can anybody help please?
My SIPP has for a number of years been with SippDeal. Their administration is relatively inexpensive and efficient but their investment choice (even with SippDeal Extra) is very limited and expensive.
The time has come to change but there is a bewildering choice of providers (sharks) in the market (sea).
What I am looking for is:-
1. To be able to invest via CFDs in a wide range of US stocks. Reason:- leverage and to be able to go short. IG Markets goes down to a market cap of $500m (not quite far enough for me) but even if it was their commission rate is grotesque (4c per share, no maximum). GNI goes down to $10m and their rate is lower than IG. So far so good, GNI looks like the broker to use for US Stocks.
2. I want to invest a portion of my fund in futures - again GNI can assist there. Berkeley Futures can offer a good range but their commission is simply too high.
3. The real problem comes with finding the right trustee / provider. They are either inexpensive but with inadequate investment coverage (eg Hargreaves Lansdowne & SippDeal) or grossly overpriced with good investment choice (make your own list!)
Can anybody help please?
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Dentalfloss
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interactivebrokers/sipp
Hi Dentist,dentist007 said:
For some time I was in correspondence with Gerald Perez who was investigating this for me. Without explanation he stopped communicating so I assumed nothing had come of his enquiries and this was just slipping into the usual IB service.
Do you know of IB doing anything in this field? There is nothing I can find on their web site - whether public or signed in.
Thanks
Lev
It's my personal opinion only but I would suggest that leverage should play NO part when managing a personal pension.
Use leverage sure but only with money that is speculative not money that will be used to pay yourself on retirement. With a SIPP you don't have to make big money, earn 10%-15% a year over 2+ years compounded and the pension pot will really grow.
I'd suggest that over 80%+ of those who use leverage in a SIPP will really regret it at some stage over the next 10-30 years (about the time of most SIPPs). And remember, you only have to be unlucky once to pay the price.....
It's my personal opinion only but I would suggest that leverage should play NO part when managing a personal pension.
Use leverage sure but only with money that is speculative not money that will be used to pay yourself on retirement. With a SIPP you don't have to make big money, earn 10%-15% a year over 2+ years compounded and the pension pot will really grow.
I'd suggest that over 80%+ of those who use leverage in a SIPP will really regret it at some stage over the next 10-30 years (about the time of most SIPPs). And remember, you only have to be unlucky once to pay the price.....
Dentalfloss
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moved my sipp to gni.ib have told me that they will not be doing sipps for the time being
Best SIPP Providers according to shares awards in UK 2007
Winner: Pointon York SIPP Solutions offer a simple wrapper or shell through which you can nominate just about any platform/broker to operate and run your fund.!!!!! NICE justr what I was looking for.. Iam still waiting to see how high there fees are but I thought Id drop this juicy information here for your lovely folks. Theres no way Im gonna have some insurance company try to offer nme a unit trust that gives me 1% performance per annum no way! rediculous!
Nominees were:
Hargreaves Lansdown (offer shares in UK but you cant short stocks.. Very cheap to operate though!!!
James Hay
Pointon York SIPP Solutions
Redmayne Bentley
SIPP Deal
TD Waterhouse (hmm. dont like thier strong links to CFDs and spreadbets ie proprietary products = no no for me))
Winner: Pointon York SIPP Solutions offer a simple wrapper or shell through which you can nominate just about any platform/broker to operate and run your fund.!!!!! NICE justr what I was looking for.. Iam still waiting to see how high there fees are but I thought Id drop this juicy information here for your lovely folks. Theres no way Im gonna have some insurance company try to offer nme a unit trust that gives me 1% performance per annum no way! rediculous!
Nominees were:
Hargreaves Lansdown (offer shares in UK but you cant short stocks.. Very cheap to operate though!!!
James Hay
Pointon York SIPP Solutions
Redmayne Bentley
SIPP Deal
TD Waterhouse (hmm. dont like thier strong links to CFDs and spreadbets ie proprietary products = no no for me))
yes but that doesnt really apply if 1. like me your pot is tiny
2. you use stops
3. You excersize good money management rules particularly with assett allocation techniques..
I know this is old thread but hey still relevant today, besides in three years time Id be shocked if I wasnt at least consistent in my approach to trading.. just makes sense that if one is committed to trade, that one should trade thier own pension rather than allow some huge insurance company or similar to con you with a rediculous 3% growth per anum whilst charging you heavily for the privelidge.. I guess thats why it has taken me so very long to believe in pensions.. I mean a 60K pot gained by putting away £160 per month for 25yrs only buys you an annuity of £4.5K per year, what a joke..!!.. Im not sure Id ever want to retire anyway as a trader.... I could talk all day on this..
goodtyneguy
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SIPP Broker/Trustee Partnership Receommendation..... please
Could someone recommend the best broker and administrator/trustee partnership for a relative newby who wants to start by position and swing trade US stocks and ETFs with a view to progressing onto day trading the same.
In order to add in some future proofing to advance my career, a broker that offers the facilities to trade the whole gambit of investment vehicles allowed under SIPP rules would be preferable.
Thanks 🙂
Could someone recommend the best broker and administrator/trustee partnership for a relative newby who wants to start by position and swing trade US stocks and ETFs with a view to progressing onto day trading the same.
In order to add in some future proofing to advance my career, a broker that offers the facilities to trade the whole gambit of investment vehicles allowed under SIPP rules would be preferable.
Thanks 🙂
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goodtyneguy
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Anyone........ ?
Well quite old thread but if still listening.
1). I cannot suggest the best as I am not a financial advisor and no one can suggest the best anyway without kn owing your needs and skills in detail, although you could pay for an IFA.
2). The most flexible I am personally aware of, and as recommended by my IFA is IPM as the trustee. They deal with several brokers and will offer all investment vehicles allowed. I am looking at GNI, but it seems to me ODL also offer a very flexible brokerage.
Please note the above is not advice just a pointer of somewhere to look. if you are hiring an IFA to help you then please do due diligence yourself - this is a big move to make.
Good luck and good trading
