YouTuber made this claim.
Is it true?
Can I transfer my SIPP to you guys?
This would be good news but still means next to nothing if I can’t actually transfer my SIPP to investengine!!
@InvestEngine-News additionally, are ISA’s becoming flexible?
Transfers in and the ability to drawdown are needed to make the platform attractive.
Drawdown can come later. They have 20 years to prepare that for me
Get SIPP transfers sorted out! Sat on a Phatt stack here
Wow, it’s confirmed, now on IE website. As soon as transfer ins are allowed on IE, I will be transferring my old SIPP to IE. The investment community will be all over this and there will be a lot of new customers for IE.
Drawdown the issue for me too, as one of your older investors. When will this be available and will it also be free of charge?
I’ve just this year started to drawdown from an AJBell Sipp, but if I can save on monthly fees and be able to UFPLS draw once a year, I’d certainly consider transferring.
I recently had several discussions with the IE help centre about this. My understanding is that ‘drawdown’ is not available but uncrystallised funds pension lump sum (UFPLS) withdrawals are available. There are important differences between a UFPLS withdrawal and a ‘drawdown’ withdrawal. Alternatively you can transfer OUT your SIPP to another provider who might be able to provide the particular option that you require.
So far as I know transfers IN are not available and it is getting very frustrating that we have been waiting for most of this year for that facility to become available.
Personnally I have 7 figutes, spread over a SIPP, ISA and GIA with Vanguard and pay the max £375 fees, so not much.
At one time I did have an IE thematic ETF, but personally I would feel uneasy have seven figures with you and not paying you any fees to keep the platform going, update etc. I know there are ETF fees, but they go to supplier not IE.
Just got the email from Vanguard about their new fees, logged in to InvestEngine to share my referral link with someone looking to switch and spotted the SIPP is now free. Was ready to sign up when I discovered it doesn’t yet support transfers in.
Kind of get the impression the SIPP is now free BECAUSE you can’t transfer into it. Not being able to certainly limits the appeal of the platform for pensions.
I’ve moved my SIPP elsewhere, at least for now. I felt the launch and comms around hasn’t been the best from Invest Engine, and I wouldn’t have bothered to even open if i knew you couldn’t transfer. Even the comms said coming soon from day one - as did customer service when I asked how to on the day it went live.
I still use invest engine for a small ISA but i’ve moved my SIPP to ii instead rather than wait for invest engine If anyone wants a free 12 months of fees to try ii you can use this link (it is a referral one). So far all is good, you have the wider choice too but if i don’t like them in a few months it can always go somewhere else again. Also feel more comfortable that they are backed by abrdn and shared jamesc’s view about feeling uneasy that invest engine lowered a fee for the SIPP and not seeing how that’s viable long term for them as a startup.
Again not totally down on invest engine but i think i’ll be waiting to see how they operate when transfers are finally available, vs just jumping now because they’ve lowered the fee after making everyone wait a year despite 'coming soon. And whilst i know T212 wont have transfers on their SIPP at launch either - they’ll be another one to consider at that point too possibly when my ii trial runs out.
I looked at moving away from Vanguard to ii instead as I’m so bored of waiting on IE. With Vanguard fees increasing, I’m incensed to move asap but whenever I try to find out what ETF’s ii actually have available I can’t seem to find the information. They only seem to advertise their ‘top picks’ sadly. If anyone knows where I can see their entire ETF options I’d be grateful for a link!
@kyotoguardian If you put the ticker ID in the search box it usually appears in a drop down list if they have it.There is a tab for ‘all etf’s’ but your right it does show most popular and recommended. But i typically tend to just use the search box or use just ETF to find one i want and then drop the code in the search and it appears.
It is going from minimum 30 to 48, so 18 pounds over the year. Is it really worth moving.
I pay the max of £375, which is nothing considering how much I have with them. I did try transfering an ISA of 6 figures from Vanguard to IE, I think I waited about two months, before I decided it was not going to happen, and told Vanguard to cancel the IE transfer request.
I rather a platform makes money, that gives me confidence in them.
Quick update from us. We’ve just launched SIPP transfers for Vanguard customers, you can start your transfer here: InvestEngine Self-Invested Personal Pensions (SIPP) At the moment, transfers need to be done on the website, however we are aiming to update the app at the beginning of the week. The team is working hard, and we hope to roll out wider transfers soon.
Hi @descendent - you’ll be pleased to hear that we’ve launched SIPP transfers for Vanguard customers, you can start your transfer here: InvestEngine Self-Invested Personal Pensions (SIPP) . At the moment, transfers need to be done on the website, however we are aiming to update the app at the beginning of the week. The team is working hard, and we hope to roll out wider transfers soon.
If you’re a Vanguard customer, you can now transfer your SIPP to us. Start your transfer here: InvestEngine Self-Invested Personal Pensions (SIPP)
At the moment, transfers need to be done on the website, however we’re aiming to update the app at the beginning of the week. The team is working hard, and we hope to roll out wider transfers soon.
All ISA’s should be flexible now. Not sure why companies refuse to allow it.