James Hay Wrap SIPP

Last updated: 22nd June 2020

Charges Charges are not subject to VAT

Initial/Set up fee

Nil

Annual fee

First £500,000 0.35%

Next £500,000 up to £1million 0.15%

More than £1 million 0.05%

Minimum charge £32 per month.

Fees taken monthly in arrears. Discounted charges for connected wraps

Transfer in fee

Nil

Transfer out fee

Nil

In-specie transfer in fee

Nil

Taking Benefits

Nil

Annuity purchase fee

Nil

Payment of death benefits fee

Nil

Other fees

Nil for online trades.

Transaction fee £20 per instruction for Investment Centre trades by fax, post, telephone or secure message.

£20 per instruction by fax or post per investment provider for non-Investment centre trades.

Management

Access: Direct or via IFA

Via IFA only

Online capability

Details

Our secure online reporting system offers a full audit trail of transactions, asset histories and online communications. The service is available 24 hours a day, 7 days a week to Financial Advisers, Clients and Authorised Third Parties. There are a range of intuitive tools and features available including: performance reporting, asset allocation, daily valuations, transfer summaries, contribution summaries, breakdown of pension input periods, income & PAYE details, secure messaging facility, literature library, technical guides, Selftrade trading terminal, cross client analysis, document store, illustrations, fund research, trade tracking, cash alerts, IM money movements, adhoc and regular buys, sales and switches, model portfolio setup and re-balancing.

Permitted Investments

Commercial property

Unit trusts & OEICS

External deposit accounts

Subject to restrictions

Overseas listed stock and shares

UK listed stocks and shares

AIM shares

Gilts/corporate bonds

ETFs

Investment trusts

Discretionary management

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Traded endowment plans

Third party loans

Property purchase

Purchase fee

£600 plus VAT

Sale fee

£450 plus VAT

Annual property administration fee

£567 plus VAT (first lettable unit/lease in each property) then £486 plus VAT (each additional lettable unit/lease in each property), if self-managed

£1,027 plus VAT (first lettable unit/lease in each property) then £594 plus VAT (each additional lettable unit/lease in each property), if managed by CBRE

VAT registration fee

£120 plus VAT

VAT return fees

£108 plus VAT per year

Other fees

Purchase charge per additional member, £100 plus VAT

Annual charge per additional member, £108 -plus VAT per annum

SIPP Bank Account

SIPP bank account provider

Santander

Current interest rate

0%

Structure

Scheme trustees

James Hay Pension Trustees Ltd

Scheme administrator

James Hay Administration Company Ltd

Minimum contributions

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Company Information

Ownership

Wholly owned by IFG Group Plc

Year established

1979

Funds under management

Approximately £23 billion (March 2015)

Number of SIPPs administered

Approximately 56,000 (March 2015)

Defaqto rating

Five Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?

Yes, only if IFA advised

Misc

Flexi-Access Drawdown/UFPLS offered

Yes

Scheme Pension offered

No

Notes

Disclaimer

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.