Westerby Trustee Services Full SIPP
Last updated: 13th August 2024
Charges Charges are subject to VAT although shown excluding VAT
Initial/Set up fee
£350
Annual fee
£795
Transfer in fee
Origo - Nil
Paper - £75 per transfer
Transfer out fee
Cash £300 & £300 per asset
In-specie transfer in fee
£250 per asset
Property - £500 per property
Income Drawdown
Benefit Crystallisation Event, £300 per tranche
Regular payment of income, £200 pa
Ad-hoc payment, £200 per payment
UFPLS £350
Capped Drawdown reviews £200
Conversion from Capped to Flexi-Access Drawdown, £200
Payment of whole fund in year 1, £275
Additional Income Drawdown fees
Mandatory reviews, £170
Annuity purchase fee
£250
Payment of death benefits fee
£500
Other fees
Ad hoc valuations, £75
In specie transfer out, Cash £250 & £250 per asset
Pension sharing on divorce, time costed subject to a minimum of £500
Additional deeds, £300
Reminder letters on matters outstanding over 90 days, £30 per letter
Management
Access: Direct or via IFA
Both
Online capability
Details
Application Form, Key Features Documents available to download from website. Online access only available to IFAs
Permitted Investments
Commercial property
Unit trusts & OEICS
All platforms allowed
External deposit accounts
Additional fees may apply
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
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans
Third party loans
Subject to a maximum of 50% of the fund on both a secured or unsecured basis
Property purchase
Purchase fee
£900
Property purchase at Auction, £500 (non refundable)
Sale fee
£550
Annual property administration fee
£500 per property with single tenant or untenanted
VAT registration fee
£300 (First property)
£100 (on additional properties)
VAT return fees
£320 per annum (First property)
£50 per annum (on additional properties)
Other fees
Borrowing fee, £300
Building plots and development land, £200 per year
Additional tenant, £150 per year
Lease work, £300
SIPP Bank Account
SIPP bank account provider
Metro Bank
Current interest rate
Not given
Structure
Scheme trustees
Westerby Trustee Services Limited
Scheme administrator
Westerby Trustee Services Limited
Minimum contributions
Regular payments
No minimum
Transfers/Single Premiums
No minimum
Min additional
No minimum
Company Information
Ownership
Privately owned
Year established
1996
Funds under administration
£576 million
Number of SIPPs administered
Over 1,900
Defaqto rating
Five Stars
Transfers
Accepts benefits from defined benefit / final salary schemes?
No
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.