I thought the sipp would be available by June/July how long till it is available thanks
Hi! We do not have an exact ETA for introducing SIPPs at the moment, but we will post updates here and on social media once there are any news
@ivanheathcote44 @Paul_M - I can’t give an exact ETA at the moment. We do hope to be launching a coming soon / register your interest page which will have some more details…I’m just waiting for the the thumbs up on our compliance side.
Eagerly awaiting the launch of SIPPs, are Lifetime ISAs still innthe pipeline too?
Hello, yes, LISA is also on our product roadmap, however we cannot give an ETA by now as well.
Keep an eye on Community for the updates, we’ll make an announce as soon as we have difinite timeframes.
I’m interested in a SIPP too.
Hi, thanks for your interest. Be assured we’ll post updates here and on social media when this product is introduced
Very keen on a IE SIPP. I’m just about to open a SIPP and therefore looking for a platform. Already started to invest in IE with an ISA and GIA so having a SIPP here also would be good. Any news on the Register Interest page?
@andyjayh - Pls ask me again on Monday
How about Tuesday for an extra day
Thanks for the reminder @andyjayh
Truthfully, I thought were potentially going to launch a register your interest page this week…However, greater minds than mine in our Marketing department pointed out 1) We’re in the middle of holidays season and 2) Pension awareness week coming up in September.
I’ve probably shared more than I should. Safe to say we’re itching to share more details.
Apologies for the slightly premature hint dropping. Marketing should rightly bar me from posting at least for a few weeks.
If it helps save your skin with marketing, I am currently considering changing my personal pension provider and will now hold off for a while to see what IE are going to offer!
Thanks Tom for the feedback and completely understand your excitement to get information out there for a new product. As you can see, there are many of us already very interested in what you have coming.
I will transfer my SIPP over on day 1, great news
Some unsolicited advice from a FinTech CMO here. Why not soft launch it with your engaged customers now, get any bugs or niggles out of the way, then hard launch as planned in a few weeks time? Win / Win for all involved.
Regards, an impatient man
Turns out the page to register interest in a SIPP is live. Advertised in today’s Monthly Roundup newsletter:
£11.99 monthly fee. Hmmm…
£11.99 per month is too high for small amounts. I’m paying 0.5% of my pot per year with Aviva.
A £50,000 pot would cost £250 per year with Aviva, similar to IEs costs. You’d need more than this for IEs to worthwhile.
Of course, if you’re lucky enough to have a lot more, then IEs costs are attractive.
When I heard IE was going to offer a SIPP, I was considering moving over from Vanguard Investor but if it ends up at £11.99/month that will be significantly higher than the 0.15% at Vanguard, at least for my pension pot size.
I understand that IE must eventually reach profitability but it seems this pricing model will only attract those investing less that £2k or those much larger, say £50-100k+. For many of us in the hole in the middle, it appears problematic.
Hi, I did the maths and InvestEngine works put cheaper if you have a pension greater than £95,920.
InvestEngine SIPP annual cost:
£11.99 x 12 = £143.88
Vanguard SIPP annual cost:
0.15% of £95,920 = £143.88
So, yeah. Vanguard will work out much cheaper for those just starting out with a SIPP. And cheaper all the way up until that point.
That being said. There are some clear perks of InvestEngine over Vanguard. The main one being you are not limited to Vanguard funds and have a much greater investment range.
But tbh I am glad to see InvestEngine finally starting to introduce some fees. They had to start generating more revenue somehow and if they are able to get enough people signing up for a SIPP, then it will help keeps the S&S ISA free for all of us in the long run.
An InvestEngine SIPP would be much cheaper than that. See my other reply