SIPPclub neither advises on nor arranges SIPPs. But with our contacts, we should be able to introduce you to a SIPP operator to meet your investment needs.
Although SIPPclub Doesn't Feature Any SIPPs And We Are Not A SIPP Operator, We Hold Details Of SIPP Operators That Allow All Of The Investment Opportunities Described On SIPPclub
Arguably The Best Value SIPP For Stockmarket Assets Only
If you want to just stick to stockmarket assets, particularly low cost passive funds, then one of the most competitive SIPPs on the market is available from AJ Bell
However, if you’re looking to invest your SIPP money into asset classes beyond the stockmarket, you’ll need a full SIPP. As a Member of SIPPclub, you can specify your investment requirements in the blue box towards the bottom of this page, and we'll point you to a SIPP operator that’s best suited to your needs.
What Is A Full SIPP?
There’s a huge range of investments that are permitted by HMRC for SIPP investment. A full SIPP gives you access to some or all of them.
With a full SIPP, you can invest in a wide range of standard assets such as stockmarket funds, cash deposits, bonds and stocks. In addition, you could take advantage of non-standard assets such as high interest loans, or crowdfunding and peer-to-peer. You could trade a variety of instruments like forex using your SIPP money. Your SIPP could purchase real commercial property. It could even lend money to your business in some circumstances. And a full SIPP could invest in other things too.
There are, however, some assets that are likely to be refused by a SIPP operator. That’s because investment in these areas will incur substantial fines and penalties from HMRC. This includes residential property, and things referred to as ‘taxable property’, such as antiques, fine wines, art, classic cars and the like.
Subject to the point above, whilst your investment choices aren't limited with a full SIPP, a SIPP operator may choose to impose its own restrictions of one sort or another. There are a number of reasons for this.
- It may not have the desired level of expertise in a particular asset class, for example, commercial property.
- Having undertaken a detailed level of due diligence on a specific investment regarding its structure and financial fundamentals, it may conclude it’s either likely to cause a tax problem, or the money may be difficult to recover in the event of the investment getting into difficulty, or something else.
- It may limit its allowable investments to standard assets only, for non-standard assets will impose a higher financial burden on its business, for example, peer-to-peer.
It is 10 months since I moved my pension funds into a full SIPP via SIPPclub. I must say that the SIPP operator is a dream to deal with and I am impressed with the very personal service provided. SIPPclub has proved to be invaluable as well and I must congratulate you on everything you have done to make it so successful.
Duncan Hector, SIPPclub Member
With Its Wide Range Of Benefits, You’d Be Forgiven For Thinking A Full SIPP Will Cost You A Fortune
Well it doesn't! It's usually very competitively priced.
Typically, you’ll pay around £1,250 plus VAT per year, although there may be one or two asset classes that are charged separately, like commercial property.
For a flexible, all-inclusive SIPP, with no hidden charges and no need to pay for advice, this could work out very well for you. In fact, for the average SIPPclub Member whose fund value runs to several hundred thousand pounds, it costs less than may other types of individual pension!
A Word About Advice
We focus on SIPP operators who are willing to allow you to set up your SIPP and make investment decisions without the need for you to receive advice from an independent financial adviser.
That’s not to say that taking advice is wrong. It’s often a very good idea to seek the opinion of a trusted professional who’s licensed and experienced in self-invested pensions. But if you’re happy taking personal responsibility for your investment decisions, and your financial circumstances make it appropriate for you to act on your own account, we’ll point you to a SIPP operator who might be able to help you.
It’s fair to say that many full SIPP operators will require you to take advice, primarily because they believe it’s the right thing for you to do.
As many advisers charge an average of 3 per cent of your fund value for the initial advice and recommendation, and up to 1 per cent per year on an on-going basis, finding a SIPP operator willing to allow you to act without advice could save you a huge amount of money.
How To Qualify For A Full SIPP Without Having To Take Advice
When you become a Member of SIPPclub, the information you provide enables us assess whether you have the appropriate level of affluence, knowledge and experience for a full SIPP, without the need to be advised by an independent financial adviser.
Looking at the tables below, you’ll need to fulfil at least one criterion from each of the following sections. However, if you have exceptional circumstances that you believe makes you appropriate for a full SIPP, we'd be delighted to hear from you, to see whether there’s a SIPP operator that might be able to help you.
- Currently earn £100,000 per year or more.
- Hold net assets of £250,000 or more, excluding your home and your pension funds.
- Have been a member of a network or syndicate of business angels for at least the last six months.
- Have made two or more investments in an unlisted company in the last two years.
- Have worked, in the last two years, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises.
- Have been, in the last two years, a director or partner of a company or organisation with an annual turnover of at least £1 million.
If you have a final salary, defined benefits pension scheme you'd like to transfer, in line with Financial Conduct Authority guidelines, it'll need to be fully analysed first, to ensure it's appropriate and worthwhile for you to give up the guarantees of the scheme. We can introduce you to a comprehensive final salary pension review service. It's provided by a Financial Conduct Authority regulated firm of independent financial advisers that over the last 25 years has advised around 100,000 pension clients nearing or in retirement. It has experience of both SIPP and SSAS.
Apply For A Full SIPP
If you’d like to be introduced to a SIPP operator to take advantage of a full SIPP, please login to the SIPPclub Members Area, and then return to this page where you’ll find details of how to proceed.
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AJ Bell Is Often The Best Value SIPP For Stockmarket Assets
Over time, charges can wipe out a huge part of your fund. We like AJ Bell because there are no set-up costs. If you hold passive funds, which is our preference, or shares, investment trusts, EFTs, gilts or bonds, you pay one small fixed fee no matter how large your fund. And when you come to draw your benefits either as occasional drawdown or UFPLS payments, there's a small charge for the whole year no matter how many times you access your money (many SIPP and SSAS providers charge more than this for each payment). However, you should always compare charges in detail, because AJ Bell could be more expensive than other providers, depending on the type of stockmarket assets you hold.
Get Valuable SIPP And SSAS Insights Emailed Directly To Your Inbox Every Monday
As SIPPclub neither advises on, nor arranges, nor recommends specific investments or strategies, we're unable to say whether a SIPP or SSAS or any investment within it is right for you. Ultimately, it’s your money and your decision, and you should only proceed once you're satisfied you've undertaken sufficient due diligence. If you need advice, you should speak to your trusted adviser, or you could find a local adviser from Unbiased.co.uk. Alternatively, we'd be pleased to introduce to a suitably qualified independent financial adviser.
Please read our full Terms which includes criteria for SIPPclub membership.