AJ Bell Investcentre SIPP

Last updated: 22nd June 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:

£30 per quarter for SIPPs worth less than £25,000

£40 per quarter for SIPPs worth between £25,000 and £50,000

£50 per quarter for SIPPs worth over £50,000

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SIPP closure £250 payable when all funds withdrawn via UFPLs or flexi-access drawdown within 12 months of opening, £75 otherwise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, £40 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

£750 per property

Sale fee

£400 per property

Additional £100 if property which is sold is held jointly (payable per member)

Annual property administration fee

£480 per property

VAT registration fee

£120

VAT return fees

£180 per property

Other fees

Off panel quarterly fee, £50

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.