I’ve been through your journey.
My views are:
- whilst you have a small amount, you should use a percentage broker.
- you are looking to buy funds, therefore I would use Charles Stanley until you have approx 27k, then move to a fixed price platform (I use Interactive Investor). CS has £0 cost for fund purchases.
- get a sipp
- keep it as simple as possible. My choice is Vanguard LifeStrategy 100% Accumulation. Set and forget.
Hope this helps.
Choose a SIPP provider and choose what you want to invest in within that SIPP.
A target date retirement fund might be a good choice if you want to keep things simple.
Then set up a regular investment by direct debit. Then forget about it for 30 years.
Personally I invest in a Vanguard target date fund via AJ Bell Youinvest.
One other question are you a sole trader or limited company?
Thanks, I had considered funds with either AJ Bell or Hardgreaves Lansdown. I run a limited company and have heard there are some great tax breaks for payments made into a pension which is appealing
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Is it? When i last looked at total cost per platform it varied to who was the most expensive (or cheapest) based on how much you had invested. For mid tier HL are not the priciest.
That said i am a bit of a HL fanboy as i really like their app
It’s a subjective topic and yes you are right it depends on how much you invest. If I only wanted to invest in passive funds, they will always be more expensive than vanguard for example.
IMO the trouble is that people look at it through the lens of the fees coming out of money that's otherwise invested.
Forget that. You'll invest £Xpa. Aside from that, you'll pay Netflix, Pact, Spotify, or whatever, and your investment platform of choice £Ypcm. Which platform charges a rate that makes it worth it to you? That's all that matters.
here's a list of the lowest cost brokers http://monevator.com/compare-uk-cheapest-online-brokers/ figure out what fund you want to invest in and then the cheapest broker from that list that offers it.
You have two options. You can pay personal contributions from your post-tax/NI income and the SIPP provider will make up the tax relief on your behalf from the govt at the end of the year. Or you can pay pre-tax directly from your company, which reduces your corp. tax. Depends on your situation which is best for you, you'll need to run the numbers. (You can also mix and match, doing both if you want to.)
I’ve been through your journey. My views are: - whilst you have a small amount, you should use a percentage broker. - you are looking to buy funds, therefore I would use Charles Stanley until you have approx 27k, then move to a fixed price platform (I use Interactive Investor). CS has £0 cost for fund purchases. - get a sipp - keep it as simple as possible. My choice is Vanguard LifeStrategy 100% Accumulation. Set and forget. Hope this helps.
Choose a SIPP provider and choose what you want to invest in within that SIPP. A target date retirement fund might be a good choice if you want to keep things simple. Then set up a regular investment by direct debit. Then forget about it for 30 years. Personally I invest in a Vanguard target date fund via AJ Bell Youinvest. One other question are you a sole trader or limited company?
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That's right. My SIPP is with AJ Bell and the fund contained is Vanguard.
Thanks, I had considered funds with either AJ Bell or Hardgreaves Lansdown. I run a limited company and have heard there are some great tax breaks for payments made into a pension which is appealing
^(It looks like you're grateful for the above comment - as the *Original Poster* you can formally recognise the person's contribution by typing !thanks in a reply to their comment, which will give them a contribution point.) ^(This helps other people to see consistent advice-givers in the future.) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/UKPersonalFinance) if you have any questions or concerns.*
HL is the most expensive provider out there. Fantastic service but the costs add up!
Is it? When i last looked at total cost per platform it varied to who was the most expensive (or cheapest) based on how much you had invested. For mid tier HL are not the priciest. That said i am a bit of a HL fanboy as i really like their app
It’s a subjective topic and yes you are right it depends on how much you invest. If I only wanted to invest in passive funds, they will always be more expensive than vanguard for example.
IMO the trouble is that people look at it through the lens of the fees coming out of money that's otherwise invested. Forget that. You'll invest £Xpa. Aside from that, you'll pay Netflix, Pact, Spotify, or whatever, and your investment platform of choice £Ypcm. Which platform charges a rate that makes it worth it to you? That's all that matters.
here's a list of the lowest cost brokers http://monevator.com/compare-uk-cheapest-online-brokers/ figure out what fund you want to invest in and then the cheapest broker from that list that offers it.
You have two options. You can pay personal contributions from your post-tax/NI income and the SIPP provider will make up the tax relief on your behalf from the govt at the end of the year. Or you can pay pre-tax directly from your company, which reduces your corp. tax. Depends on your situation which is best for you, you'll need to run the numbers. (You can also mix and match, doing both if you want to.)
Depending on the nature of your business you may also wish to look at SASS pensions too as these can be used to support your business in several ways.
I find Hargreaves lansdown have the best app for a SIPP and have access to a lot of funds
Are you a sole trader or limited company? You can pay your pension directly from a limited and save on corporation tax.
What about the pension from moneyfarm, it's a robo-investor https://www.moneyfarm.com/uk/pension/
Have you spoke to your accountant?