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tony m
Posted: 04 April 2013 10:01:59(UTC)
#1

Joined: 20/12/2011(UTC)
Posts: 51
I have built up a SIPP with Standard Life which was set up by an FSA some years ago, and is somewhat expensive to run!
I now have the time & inclination to manage my own investment & save costs and have looked at platforms like Hargreaves Lansdown and Sippdeal
Being cautious I have always kept a portion of my SIPP on term deposit with banks which is allowed under the SL SIPP
However I find that neither HL or SD provides any facility for using fixed term bank deposits
I am therefore unsure whether to stay with the security of SL cash deposits & suffer the extra cost, or move to a low cost platform with less investment security
Any advice would be welcome
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Roydo
Posted: 04 April 2013 14:43:16(UTC)
#2

Joined: 10/02/2012(UTC)
Posts: 101
Do you mind me asking roughly how much you hold in your SIPP?
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hooligan
Posted: 04 April 2013 15:11:06(UTC)
#3

Joined: 02/10/2007(UTC)
Posts: 23
look again at HL..it does have deposits.

cash rates are 0.5% at banks for sterling, less for euro. after fees you are getting close to zero.
after inflation you are getting a negative return..i think someone should offer a capital index linked inflation bond that pays no interest.
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MARK A
Posted: 04 April 2013 15:11:48(UTC)
#4

Joined: 16/01/2012(UTC)
Posts: 2
*
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Jackson
Posted: 04 April 2013 15:17:26(UTC)
#5

Joined: 04/04/2013(UTC)
Posts: 1
Hi, you should look at the James Hay MiSIPP it is really good value for money.
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tony m
Posted: 04 April 2013 15:55:00(UTC)
#6

Joined: 20/12/2011(UTC)
Posts: 51
I have 200k in my SL SIPP and have been getting net 3% using 1 year term deposits
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Michael Hellman
Posted: 04 April 2013 20:10:44(UTC)
#7

Joined: 26/06/2009(UTC)
Posts: 13
Ask HL what they can offer you on cash, they do have deposits and from memory have done fixed term rates.
I think this is a bugbear with sipps as cash will never yield much, but there must be sipps out there who will offer a reasonable rate,but then what are the charges and are you restricted on other products?
I would get on the phone.
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