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Low-cost IFA and SIPP provider
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N Hooper
Posted: 16 May 2019 10:53:55(UTC)
#1

Joined: 16/05/2019(UTC)
Posts: 1
Hello all,

I'm looking at opening a SIPP, transferring in my pension and using some of the funds to purchase a commercial property.

Q1. Could anyone recommend a low-cost SIPP provider which allows UK commercial property in the portfolio? Currently the lowest cost provider I can find is Investacc

£nil SIPP setup fee
£400 annual fee
£nil property purchase fee
£350 annual property admin fee

Q2. Could anyone recommend a low-cost Financial advisor?

Seems to me, if doing most of the work myself, I only need an IFA to agree the transfer and sign the authority. Yet, I'm still getting quotes for well over £1000 and even as much as £4000 for this?

Thanks, any comments welcome.
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Joe Soap
Posted: 16 May 2019 11:10:44(UTC)
#2

Joined: 24/01/2010(UTC)
Posts: 2,157
You will find retail style platform based SIPP accounts will not offer access to commercial property buying. The price you have seems very reasonable if they allow access to that ype of investment.

No such thing in my opinion as a low cost IFA. You may find it very difficult to find an execution only IFA who will recommend a transfer at any price if you are transferring a final salary, defined benefit pension. If you intend to do a defned benefit > SIPP transfer, myself, I would advise caution. A money purchase pot, without GAR etc.... is another case altogether though.
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