The Talbot & Muir SIPP

Initial/Set up fee

Online application - Nil
Paper application - £150

Annual fee

Level 1 - £300 Single investment

Level 2 - £385 Multiple investments

Level 3 - £1,035 Multiple investments + single commercial property (externally managed)

Level 3 - £1,200 Multiple investments + single commercial property (self managed)

Transfer in fee

None, where an adviser completes the transfer requirements or via Origo

Other transfers in cash £20 per transfer (max £200)

Transfer out fee

Nil

In-specie transfer in fee

£50 per asset transferred (max £500)

Taking Benefits

Flexi Access Drawdown:

Establishing first tranche £150

Annual drawdown charge £185

Additional tranche of Flexi-Access Drawdown £150

Capped Drawdown:

Annual Drawdown Fee £150

Additional tranche £150

Uncrystallised Funds Pension Lump Sum £150

Exhausting the Fund

Nil

Annuity purchase fee

Nil

Payment of death benefits fee

Nil

Other fees

Contributions:

Single or variation of regular contribution after SIPP establishment , £20

Refund of contributions (where permitted), £20

Investment related fees:

Establishment or variation of standing order to investment account, £20 per investment, capped at £200 per annum

Establish an alternative deposit account, £20

Other fees:

Ad hoc valuations, £100

Work required to ensure compliance with changes in pension legislation and regulation, time costed

Annual meetings (where required), £200 plus travel costs

Access: Direct or via IFA

Advised only business. However, Talbot and Muir are happy to liaise with clients regarding ongoing administration.

Details

The Talbot & Muir system enables an adviser and a client to log in and view price feed valuations of current holdings held within the pension scheme.

Due to dual trusteeship of the investments within the SIPP, clients cannot makes any investment changes online because Talbot & Muir would have to counter-sign any changes

Commercial property

Unit trusts & OEICS

All platforms allowed subject to due diligence

External deposit accounts

Unrestricted access to all 'sippable' deposit accounts, subject to due diligence

Overseas listed stock and shares

All stockbrokers and platforms allowed, subject to due diligence

UK listed stocks and shares

All stockbrokers and platforms allowed, subject to due diligence

AIM shares

All stockbrokers and platforms allowed, subject to due diligence

Gilts/corporate bonds

All stockbrokers and platforms allowed, subject to due diligence

ETFs

All stockbrokers and platforms allowed, subject to due diligence

Investment trusts

All stockbrokers and platforms allowed, subject to due diligence

Discretionary management

Unrestricted access, subject to due diligence

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company funds

Hedge funds

Hedge funds in standard investments are acceptable.

Traded endowment plans

Third party loans

Purchase fee

£800

Sale fee

£350 per property

Annual property administration fee

Single commercial property - fee part of annual fee for level 3

Additional property - £150 per property

VAT registration fee

£100

VAT return fees

£50 per quarter

Other fees

Pension fund borrowing fee £400 per property

Environmental screening report, from £225

SIPP bank account provider

Barclays Bank

Current interest rate

2.69%

Scheme trustees

TM Trustees

Scheme administrator

Talbot & Muir SIPP LLP

Regular payments

No minimum

Transfers/Single Premiums

No minimum

Min additional

No minimum

Ownership

Nucleus Financial Platforms (Nucleus) / Curtis Banks

Year established

1993

Funds under management

£80 billon

Number of SIPPs administered

over 7,000

Defaqto rating

5 star rating

Accepts benefits from defined benefit / final salary schemes?

Yes, if IFA advised

Flexi-Access Drawdown/UFPLS offered?

Yes

Scheme Pension offered

No

Notes

In order to qualify as a Single-Asset SIPP (level 1 fees of £260 pa), in addition to the main SIPP bank account held with Barclays Bank, the SIPP may only contain one other non direct property holding. For example, this may take the form of either a single Discretionary Fund Manager portfolio, a single Platform, a single stand alone Unit Trust/OEIC/Trustee Investment Plan, or a single direct equity holding.

As soon as the SIPP owns more than one of these assets, it is then treated as a Multi-Asset SIPP (level 2 fees of £460 per annum.)

For investments in Multi-Assets including a single commercial property, this is deemed level 3 with fees of £1,035 per annum.

Please refer to schedule of fees for full details.

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.