AJ Bell Investcentre SIPP
Last updated: 23rd December 2020
Charges Charges (except dealing and annual custody charges) are subject to VAT although shown excluding VAT.
Initial/Set up fee
£120 (waived if £25,000 or more of SIPP assets are invested using Funds & Shares Service)
Annual fee
Quarterly administration (waived if £200,000 or more of SIPP assets are invested using Funds & Shares Service).
Payable based on value of all SIPP assets at the end of the relevant quarter:
£45 per quarter for SIPPs worth less than £100,000
£55 per quarter for SIPPs worth between £100,000 and £200,000
£65 per quarter for SIPPs worth over £200,000
Transfer in fee
£60 per transfer
Transfer out fee
£75
Transfer to a QROPS £425
In specie transfer out of an investment account held in nominee name, or assignment of an insurance policy, £225
Transfer out in specie from the Funds & Shares Service, £25 per holding (VAT exempt)
Property transfer out charged as per a property sale
In-specie transfer in fee
On-panel or investment partner, nil
Off-panel, £225
Taking Benefits
Flexi-access drawdown at all ages and capped drawdown pre 75, £150 pa even if no income taken
Capped drawdown from age 75, £250 pa
Regular UFPLS payments, £150pa
one off UFPLS, £75 per payment
one off income payment from existing drawdown funds, £25
Designate additional funds to drawdown, £75
Convert from capped drawdown to flexi-access drawdown, £75
SIPP closure £250 payable when all funds withdrawn via UFPLs or flexi-access drawdown within 12 months of opening, £75 otherwise
Annuity purchase fee
£75
Payment of death benefits fee
Time costed
Other fees
Funds & Share service charges:
Annual custody charge:
Assets up to £1,000,000, 0.20% per annum
Assets between £1,000,000 - £1,500,000, 0.15% per annum
Assets between £1,500,000 - £2,000,000, 0.10% per annum
Assets above £2,000,000, 0.00% per annum
Not charged on SIPP assets held with investment partners, off-panel investments and directly held property
Dealing / switching:
Using regular investment service, £0
Using bulk dealing / model service, £1,00
Online, £3.95
Telephone, £29.95
Paper form, £70
Investment related fees:
Multiple investment partners, £60 per annum per partner
Off-panel investment transaction, £50
Off-panel annual administration, £200 per annum
Managed Portfolio Service (MPS), 0.15%
Other fees:
Splitting / sharing assets on divorce, time costed
Insufficient funds to pay benefits or SIPP charges, £25 per event
Management
Access: Direct or via IFA
Via IFA only
Online capability
Details
A wide range of functionality is available, including:
Bulk dealing and model portfolio tools
X-ray analysis on both active and prospective portfolios
Online applications - no wet signature required resulting in straight-through processing
Ability to co-brand client-facing sections of the website and literature
Permitted Investments
Commercial property
Unit trusts & OEICS
All platforms allowed
External 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
Over 30 panel investment partners or open market via off-panel option
National Savings & Investments
Unlisted shares
Investment in unquoted trading company shares is not permitted.
Investment in investment vehicles that have been established using an unquoted share structure may be permitted subject to review.
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans
Third party loans
Property purchase
Purchase fee
£850 per property
Sale fee
£500 per property
Additional £100 if property which is sold is held jointly (payable per member)
Annual property administration fee
£600 per property
VAT registration fee
£120
VAT return fees
£180 per property
Other fees
Off panel quarterly fee, £60
Loan to purchase a property, £350
£120 loan administration fee (per loan per annum)
To repay a loan, £100
To use multiple SIPPs to buy a property together, £250 per member (in addition to the standard property purchase fee)
Development and refurbishment, 0.5% of total costs
New lease or lease renewal, £250
SIPP Bank Account
SIPP bank account provider
Bank of Scotland
Current interest rate
0.00%
Structure
Scheme trustees
Sippdeal Trustees Limited
Scheme administrator
AJ Bell Management Ltd
Minimum contributions
Regular payments
No minimum
Transfers/Single Premiums
No minimum
Min additional
No minimum
Company Information
Ownership
AJ Bell is a public limited company, listed on the Main Market of the London Stock Exchange.
Year established
1995
Funds under management
£48.3 billion (as at 31 March 2020) across AJBell group
Number of SIPPs administered
262,000 (as at 31 March 2020) total customers across the AJBell group
Defaqto rating
Five Stars
Transfers
Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised
Misc
Flexible Drawdown offered
Yes
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.