Curtis Banks Your Future SIPP

Initial/Set up fee

£0 Online application

£113 Paper based application

Annual fee

£352 - using a Curtis Banks Investment Partner &/or one deposit account

£817 - full range of investment options

A further £113 is charged where no servicing IFA is linked to the SIPP

Transfer in fee

£57 for cash transfers (waived at plan establishment)

Transfer out fee

Full or partial, £284

Transfer to QROPS, £398

Forwarding monies to receiving scheme after SIPP closed, £57

In-specie transfer in fee

£113 in-specie transfers (waived at plan establishment)

Additional £284 for specialist investment

Taking Benefits

Accessing fund using Flexi-Access drawdown, £137

Annual fee for payment of pension income, £171

Uncrystallised Fund Pension Lump Sum, £137 per payment

Conversion from Capped to Flexi-Access drawdown, nil

Payment of total fund and SIPP closure, £284

Capped Drawdown reviews/LTA test at 75/excess LTA payment, £113

Annuity purchase fee

£284

Payment of death benefits fee

Time costed (min £536)

Other fees

Specialist investment due diligence/purchase fee, £585

Specialist investment due diligence/purchase fee - top up, £295

Specialist investments annual fee, £233 per investment

Implementing pension sharing order, time costed, min £352

Correspondence on non-payment of fees, £29 per letter

Access: Direct or via IFA

Both

Details

Full online data

Commercial property

Unit trusts & OEICS

All platforms allowed

External deposit accounts

Unrestricted access to all 'sippable' deposit accounts

Overseas listed stock and shares

All stockbrokers allowed

UK listed stocks and shares

All stockbrokers allowed

AIM shares

All stockbrokers allowed

Gilts/corporate bonds

All stockbrokers allowed

ETFs

All stockbrokers allowed

Investment trusts

All stockbrokers allowed

Discretionary management

Unrestricted access

National Savings & Investments

Unlisted shares

Subject to full due diligence

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Purchase fee

£851 (£1,078 off-panel solicitor)

plus a further £171 per member for shared purchases

Sale fee

£682 (£909 off-panel solicitor)

Annual property administration fee

Property £540
Land £426

plus £113 per additional member for shared purchases

VAT registration fee

£171 per property

VAT return fees

£227 per annum

Other fees

Additional annual fee for second and each subsequent tenant, £340 pa
(capped at £680 per property or £340 where a property manager is appointed)

Aborted transactions, Time-costed

New Lease & lease renewals, £284 (£511 off panel solicitor) per lease

Rent reviews, £227 per event

SIPP bank account provider

Pooled

Current interest rate

2.92%

Scheme trustees

Suffolk Life Trustees Limited

Scheme administrator

Curtis Banks Pensions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Ownership

Curtis Banks was admitted to AIM market of London Stock Exchange 7th May 2015.

More information on the ownership structure and shareholder details can be found on the website here;

https://www.curtisbanks.co.uk/investors/

Year established

2009

Funds under management

£29.1 billion in total as at 31 December 2019

Number of SIPPs administered

76,514 as at 31 December 2019

Defaqto rating

Five Stars

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

Flexi-Access Drawdown/UFPLS offered

Yes

Notes

The information within this section is for your general information purposes only and does not constitute investment advice. It is not an offer to purchase or sell any particular asset and it does not contain all of the information which an investor may require in order to make an investment decision. Please obtain professional advice before entering into any new arrangement. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of the information of this site.