MEGATHREAD: Freetrade SIPP

Maybe the benchmark is a Cash ISA interest rate :sweat_smile:. I shall ask

I was trying to find funds to compare.

SJP Global Equity Pn Acc that seemed like their best global equity fund technically beats the market

Their ā€œAdventurous Portfolioā€ which seems to be a collection of funds like Vanguards LifeStrategy technically beats the market, but then the LS 100% beats their fund by a significant margin.

Their best performing funds over 10 years is
SJP North American Pn Acc 307%
SJP Global Managed Pn Acc 203%

over 5 years
SJP Emerging Markets Equity Pn Acc 157%
SJP North American Pn Acc 127%

Their north American fund looks to be one of the best but is under performing the index benchmark, and Vanguards U.S. Equity Index Fund follows the benchmark much more closely for a 0.25% fee total.

I dont know, maybe im missing something. I suppose thereā€™s some feeling of security on someone telling you what to invest in in their own funds and maybe that provides a bit of security, but it seems to under perform for a cost of around 2% a year.

Has anyone done a partial transfer?

Not yet. Still waiting to hear from my other provider if itā€™s possible! :unamused:

I had planned to do a partial transfer but Iā€™m not willing to risk it when I canā€™t get support to make a transfer from my GIA to my SIPP.

Yes, tried with standard life - wasnā€™t able to - probably because it was an ex-employer pension. I was able to do a partial with nutmeg - both still in progress.

Stilllll waiting. :rofl: I was on the early list, it seemed very straight forward for everyone else. Has anybody else transferred through vanguard ?

Spoke to them 10 days ago and it was in its ā€œfinal stagesā€ and they refuse to rely to me ever since. Iā€™ve contacted Freetrade and the service just isnā€™t the same any more. Takes days and days for a reply so Iā€™m stuck.

@Buylowsellhigh01 Hey, sorry this has taken so long at the Vanguard side.

As soon as itā€™s arrived, weā€™ll be in touch!

Apologies also for the delay getting back to you on the in-app chat, weā€™re slammed, but are getting there.

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Pretty sure I was the first person to put in their SIPP transfer request in Jan. My Aviva workplace pension transfer just came through today :raised_hands:

Still waiting for my HL SIPP to be processed on their side.

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I can DM if you still need any help. Iā€™ve done it twice.

I wouldnā€™t touch SJP - Have read lots of storiesā€¦ They often approach me on LinkedIn directly - well their sales people doā€¦ Having spent 15 years learning about investing Iā€™m pretty sure the average SJP consultant doesnā€™t know any more than I doā€¦

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Hi, did you make the transfer? I have requested a transfer of my HL IS A to Freetrade (because of the monthly cost). Two weeks since raising requst. Speedy replies from Freetrade team. Not one reply from HL team to messages in their App. Its now a daily game that I post another reply in the HL App just to see how long they can go without responding to me. The IS A being transferred is less than a quarter of my holding with them so once FT offer a wider range of investments (thinking funds which I hold there but cannot hold in FT) there is a six figure SIPP that could come across too.

My isa transfer will be partial as there are a small number of stocks held in HL that do nit exist in FT. Two weeks so far. I downloaded a csv from HL and marked up which to transfer, which to leave in HL and which might cause a problem and provided it to FT (response next day) and HL (no response). On 6 to 8 weeks anticipated timescale, I have another 6 weeks to go. Bonkers. Far too long. Cash should transfer in 3 days max. Share holdings as I specie shouldnā€™t take more than a fortnight from point of instruction. Residual dividend income can them be mopped up afterwards.

I was wondering how they might handle a partial transfer from a sipp invested into multiple funds. e.g. how they decide what to sell. presumably if i do one (not HL), theyā€™d ask, or ask me to sell some to the cash is there to transfer.

Itā€™ll be good to see some experiences of that

Usually transform form allows to list a table of assets to sell and-or transfer.

Hi @MatAtFreetrade

Just checked and full balance of SIPP is still in my HL account.

It should be a simple cash transfer because I had already sold out of all equities.

Itā€™s been over a week since I last chased them so Iā€™ll do so again!

Hi

I have just spoken with HL help desk.

They have today indicated the request raised 26th February 10:51 for partial in specie transfer will take at least another two to three weeks.

The call handler was unable to commit to this occurring during February.

When I asked whether the cash element could be transferred ahead of the stocks I was advised the cash follows after any stocks so looking unlikely the cash element will be in FT before March.

If anyone is planning a transfer out of HL, it really does seem they are unable (dare I say unwilling or incapable) of doing it in less than two month billing cycles. At least those funds I sold because they do not exist in FT universe will not be attracting fees as cash!

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Still not landed in Freetrade yet

At what point do I drop them a message :eyes:

My transfer finally arrived this morning :sweat_smile:
So from initiating in app with FT the transfer from LV took 22 days all toldā€¦

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Sadly for me, my update from Freetrade today was that HL say they are working on the transfer but that there are ā€˜delaysā€™ so this could take longer than usualā€¦