The iWeb SIPP is owned by Halifax Share Dealing and the pension is administered by AJ Bell.
The company prides itself on having low, low dealing costs. Because their SIPP was intended to meet the demands of experienced investors and active investors.
Dealing costs for shares, funds, and Exchange Traded Funds are a lowly flat £5.
We couldn't find any informtion on when the iWeb SIPP was formulated nor could we find information about the amount of capital under administration. Nor could we find how many clients they have on their books.
As you may expect from a company offering the lowest dealing costs, any other products would probably be equity based.
Opening an account costs £25 for both the Stocks and Shares ISA and the Share dealing accounts and a zero cost for opening a Self Invested Personal Pension accout.
Dealing costs for all types of product are a flat £5.
iWeb do offer a mobile app. It's the same one as the Halifax Share Dealing use. The company claim that traders can buy and sell shares in real time and get instant updates on how their stocks are doing.
Accounts can be funded from the phone app which ensures that investors can trade at all times without the fear of running low on resources at a crucial moment.
As always, please do your due diligence when comparing charges of the different SIPP providers. We provide with a (very) brief outline of charges but it is your responsibility to look the the "small print."
Here are our findings:
Share, trust, ETF dealing: £5
Dividend re-investment: 2% (£5 max)
Initiating Drawdown: £180 per year
Regular income payments: Free
Uncrystallised funds pension: £90
lump sum(per payment)
Annuity purchase: N/A
Transfer out (cash): £90
Transfer out (stocks): £90 plus £25 per investmet (max £215)
The iWeb SIPP is proabably the cheapest dealing platform available. However, it's not just about deling costs - you must consider everything.
We have included iWeb SIPP because of its dealing costs. It is owned by the Halifax and, like the Halifax, the pension side is provided by AJ Bell.
The iWeb SIPP is the probably the simplest and most basic platform available. It is probably the cheapest dealing platform as well.
But, there are other factors to consider.
It is clearly intended for seasoned investors as the dealing costs are the lowest we have come across. But ... you know what's coming ...
..you must shop around and weigh up all parameters before commiting.
The company website can be found at: www.iWeb-ShareDealing.co.uk
Chris and Clem Meet Up - hopefully, the last time before lockdown easing
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