BestInvest is based in Mayfair, London and was founded in 1986 by John Spiers. It began as a specialist research and broking company which included Business Expansion Schemes (BES). It is from this that the company derived the name: BEStInvest. It was originally called BESt Investment.
In 2007 it was bought out by management and the 3i company and around that time acquired a financial services company.
In 2014 the group bought investment manager Tilney from Deutsche Bank. By 2016 the Tilney BestInvest group, as it was then called, and in 2017 it was re-branded the Tilney Group with over £20 billion of assets under management.
The BestInvest SIPP is one of several execution only investment services provided by the group.
Other products they offer are:
The Tilney Group offer a reserch facility whereby clients can search and filter thousands of investments available through their Online Investment Service.
Conversely, they will manage your investments for you by choosing one of four Ready Made Portfolios.
These Ready Made Portfolios are broken down as follows:
A nice option to have but managed accounts are not what this website is all about. This website is 100% geared towards option nuber 1 but with YOU making your own decisions.
"MyTilney" is the BestInvest SIPP app which is available from the App Store. It requires iOS 9 or greater.
It permits the user to access data on iPhone, iPad, and iPod Touch. We couldn't find out if the app was compatible with Android or Mac devices or not.
The BestInvest SIPP charges are comparable to most other providers.
Compare our charge breakdown with others that we have reviewed. As always, make sure you do your own due diligence.
Shares, trusts, and Exchange Traded Funds: £7.50
dealing done online
Dividend re-investment: Free
Initiating Drawdown: £0-£100K: £120 £100K+: £108
Regular income payments: £0-£100K: £120 £100K+: free
Uncrystallised funds pension: £25
lump sum (per payment)
Annuity purchase: £90 if through BestInvest £180 if external
Transfer out (cash): £90
Transfer out (stocks): £180
These charges are deliberately laid out this way so that you can compare them against other SIPP providers. They are not a full list of charges and you should do your own research to find out more about the company and if it is a good fit for you.
Tilney Group are well-known for their investment research and the benefits of that research are available to signed up members. A huge plus point.
The Tilney mobile app is a little confusing. Until it is clear that the app is compatible with Android and Mac devices it remains a negative issue.
As for charges, the BestInvest charges appear to be in line with those of other providers, but as we always mention - do your due diligence before commiting yourself.
Chris and Clem Meet Up - hopefully, the last time before lockdown easing
Chris and Clem Meet Up - at last! They can meet in the beer garden
Chris and Clem Meet Up and it is Chris' turn to do most of the talking. Chris' little windfall has allowed him to widen his portfolio. Chris vows of more.