Where do you begin to find the best SIPP Providers?
Let's face it - it's a difficult start.
You get it. You want to be in charge of your own Pension in the form of a SIPP (Self Invested Personal Pension) but where do you start?
Do not be over-whelmed.
Of course, you realise that once you've made your decision you are "lumbered" with your choice. Right?
Wrong. If somewhere down the line you are unhappy with your SIPP Provider (a.k.a. Stock Trading Platform) for whatever reason, or for no reason at all, you can switch.
You are not married to a SIPP Provider for life.
Of course, it's good to get it right first time. Isn't it the same with a lot of things in life?
Just bear in mind that you can change if you are not happy.
There are literally dozens and dozens of SIPP Providers out there.
How could you possibly choose which one is right for you?
We're sorry to say that there is no straight answer to the question. And we are not qualified to give you advice - but we are qualified to give you direction.
This is not a decision for you to take in 5 minutes. Take your time. Explore your options.
What type of person are you? What do you want to accomplish? What age are you?
It's time for you to do some due diligence.
If you have just landed on this web page, then you need to read on, but you also need to explore some of the other web pages - to get the broader picture.
Read the "getting started" it's at the foot of every web page.
Read the section Stock Trading Platforms . In that section you will be lead to TEN SIPP Providers of our choice. That is, choice by popularity.
We suggest you read these quick synopsis to get a good idea. For each of the ten SIPP Providers, we have tried to compare each on a like for like basis. For example, we endeavoured to have been consistent in our breakdown of charges for each of the ten providers.
Once you understand that a Self Invested Personal Pension is for you, scrutinise these ten SIPP Providers and short list the Best Stock Trading Platform for you.
Finally, know thyself.
What kind of investor are you? Read the section on Fundamental Analysis to maybe give you a better idea.
Right now, you've had a good look around this website. If not, then do it now by following the links shown above.
You've viewed the ten, and maybe a few more, SIPP Providers, and you are looking to make a short list of two or three.
So ... what kind of investor are you?
Please do one more check before we address that point.
Go to our Pension Calculator and have a play around. You'll not break it ...
... O.K. Welcome back!
Did you have a good play around with our Pension Calculator? It usually gets most of our readers excited at the possibility of what can happen to their retirement savings.
We'll state the abvious, yet again, here. You will not retire on a half-decent pension by letting a fund manager take care of your savings.
To retire with a fund that grows better than average you need a 'Do It Yourself' Pension Plan.
A.k.a. a Self Invested Personal Pension. Or a SIPP. Or a DIY Pension. They are all the same thing. They are administered by Pension Plan Providers and they all need a platform so you can access your account and perform trades.
These platforms are known as Stock Trading Platforms. When you sign up with one of the providers - you will be given access to a Stock Trading Platform. Your access will be via a Username and Password. All extremely secure and extremely fast. And, in most cases extremely cheap.
To most people, the cost of having a DIY Pension is the major consideration. To others it won't be. Their concern may be ease of use, flexibility, support, etc.
That's why you MUST do your due diligence before commiting yourself.
What is important to you?
When choosing the best Stock Trading Platform for you, make sure you have considered all angles.
To be honest. You cannot be sure which are the best SIPP Providers.
Everyone is different.
But to make your dilemna a little bit easier, our list of Stock Trading Platforms compares ten SIPP Providers to the same set of criteria.
We particularly investigate charges - being as those are most peoples' concerns.
There are three types of charges:
Here are 8 fees that we investigate for each of the ten SIPP Providers:
As you may appreciate, there is a wide range between providers. Some costs are free, some are not cheap. Some have monthly fees. Some don't.
Our choice came down to costs. Yes, of course we wanted good support. And of course we wanted flexibility.
We wanted our provider to have an "app". So we could check our positions on the move. Most providers have an app but some don't, so don't overlook this. Make it part of your due diligence.
We also took a "broad brush" approach. Hargreaves Lansdown are the biggest SIPP provider. AJ Bell are reckoned to be the cheapest. Halifax Share Dealing have branches nationwide.
All providers have pros and cons.
But we're confident that with our help and your commitment - you will end up with the best Stock Trading Platform that suits your character.
For completeness, here are the ten SIPP Providers that we refer to in separate web pages:
It is an important step choosing your DIY Pension Provider.
Scrutinise closely all the information you have collated.
Google each provider.
Call them up and talk to someone who can help you.
Send for brochures.
We cannot advise the best SIPP Providers for you - only you can do that - but we hope that we have pointed you in the right direction.
Do not ask for professional advice. It is not always impartial. Do your own due diligence. This is no time to be lazy.
Enjoy your research and we wish you great success with your DIY Pension.
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.