MEGATHREAD: Freetrade SIPP

This personal illustration has described how you intend to save for retirement and what your Pension Plan could be worth in the future. It shows the effect of fees you pay so that you can compare with other Pensions Plans.
If you are unsure about anything in this illustration please speak to a financial adviser.

Ok interesting. I just can’t imagine FT has signed up 40k SIPP users yet… :joy::joy:

I had one today too. Number was 41,7xx.

Maybe this is the start of a new ā€œhow many sipp usersā€ thread :wink:

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Illustration number might just be a report number

ā€15.2 Once a year we are required to send you a `Statutory Money Purchase Illustration’ based on the current value of your pension plan. It will provide you with an estimate of what your pension plan may be worth in today’s terms by the time you reach your selected retirement age.

Still, it’s impressive if they have 40 something thousand illustrations already, if you use that number and do some really shoddy rough back of the envelope calculations then it suggests FT already has potentially 6-figures a month in revenue for SIPPs. Then again it also depends on which party is generating the number, it could be from Gaudi Regulated Services Limited who administer the Freetrade SIPP.

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Guess we need more numbers to try to work it out a bit more.

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It’s also possible there could have been 40,000 test illustrations. Not sure we should read too much into it. :joy::joy::joy:

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Mine was also 41,7x

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Mine was 41,6xx

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Potentially seems to be sequential then. When were both of yours issued?

Mine was issued this morning. I like the idea of tracking SIPP users… :grin:.

I got my email to open my SIPP last Tuesday.

Wonder what the earliest issued SIPP number is amongst us.

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Could be, but it could also be like Facebook, where the Illustration Number is intentionally started from a higher number: https://www.quora.com/What-is-the-history-of-Facebooks-user-ID-numbering-system-It-started-with-auto-increment-when-did-it-change-And-what-were-the-different-milestones/answer/Justin-Mitchell

We need to find the earliest known Illustration Number :grinning_face_with_smiling_eyes:

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I’ve asked in-app if the numbers are sequential and if I am SIPP customer 41,6XX… Would be amazing if so.

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Considering how overwhelmed customer support is - it might be better to keep questions like this to the forum.

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Hi everyone,

For those who are transferring a pension to their FreeTrade SIPP what was the process after getting your ā€œWelcomeā€ email?

I opened my SIPP last Thursday, clicked on the Transfer option and it took me to the in app chat frontpage. There were no clear options for what to do next so I started a general chat request asking for more guidance and this hasn’t been looked at in over 48hrs.

Is my transfer button broken? :joy:

Well they chose to answer, and as a customer with a query I’ll ask questions when I want to.

The answer: ā€˜The number allocation is random’.

I’m not sure I believe it’s random, but seems unlikely that there are 40k SIPP users… yet!

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Hi Kev. That is what I got. Invite last Friday. Filled out immediately. Standard reply saying someone would get back to me. They responded after about 36 hours (albeit that was just before midnight Saturday night so must be working overtime!) but that was just to say the transfer team would be in touch. They contacted me a day later to ask for details of transfer. I supplied them immediately. They responded a day later asking if what I sent was correct. I said it was. They said I would hear from the transfer team in a further two to three days. I said I was told they were the transfer team and didn’t like going round in circles. I have heard nothing since! That was earlier today. It seems slower than I thought and slower than what some people have indicated on here.

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Thanks for the reply @Malvin. I feel better knowing it’s not just me but I’ve had no communication from FreeTrade at all yet.

The process up to the point of being dumped in chat window was nice and clear so it felt quite jarring not having any SIPP related chat options. I also worry that selecting ā€œsomething elseā€ as the chat category has put me at the bottom of their queue. It would also be nice to know where in the queue I am so I know if I’m going backwards or not :joy:

Hi Malvin :wave:

Would you mind dropping me a private message with the email address you use for your Freetrade account so I can follow that up for you? Thanks

If we can have a couple more numbers from peoples illustration docs plus the date you signed up to sipp that would be great :wink:

If we find a correlation I’ll definitely start a new thread lol.

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