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Post by valueinvestor123 on Feb 22, 2015 0:08:44 GMT
Is it possible to put a portion of a SIPP into P2P? If yes, which provider do people use (and which platforms are allowable?)
Does anyone have a link that points to instructions on how to set this up?
Thanks, vi123
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bigfoot12
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Post by bigfoot12 on Feb 22, 2015 7:36:11 GMT
Yes, it is. I haven't done it so I have no idea how easy or expensive it is. I have seen others on this forum use sippclub www.sippclub.com/sipp/crowdfunding-peer-to-peer/. They have agreements with a number of platforms including Assetz and ThinCats. |
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Post by valueinvestor123 on Feb 22, 2015 11:54:48 GMT
Many thanks. I emailed sippclub as I couldn't find details of their charges for holding a sipp on their website (the website is a little clunky...).
I read somewhere it can be quite expensive. Can it not be done via sippdeal etc?
The personal pension is currently with prudential invested in funds but I presume I need to sell the units, transfer the cash over and invest? (is it that easy?)
How do I work out how much I can take from drawdown?
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 22, 2015 12:21:13 GMT
My understanding is that SIPPClub charges are £1250 plus vat, so if you have £50k to invest it's equivalent to a 3% annual management charge. You get a few other alternative investment to choose from in addition to peer to peer.
I believe the charges could be much lower if your SIPP was dedicated to one peer to peer platform, but it isn't available yet.
IMHO there is a huge opportunity for a SIPP provider to offer a £500 dedicated single platform p2p SIPP.
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Post by valueinvestor123 on Feb 22, 2015 12:39:36 GMT
That's MUCH too expensive. I guess no p2p SIPP for now then.
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j
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Penguins are very misunderstood!
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Post by j on Feb 22, 2015 18:14:05 GMT
Obvious Q probably but, if you have 2 separate plans, one stopped with a small amount invested, can you transfer the latter to invest as Sipp & keep the other one going? Mind you with transfers tending to provide a fairly lower than true current value, it probably won't be worth it.
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mikes1531
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Post by mikes1531 on Feb 23, 2015 0:34:16 GMT
Obvious Q probably but, if you have 2 separate plans, one stopped with a small amount invested, can you transfer the latter to invest as Sipp & keep the other one going? Mind you with transfers tending to provide a fairly lower than true current value, it probably won't be worth it. You ought to be able to do that, but the fees would be the killer. AIUI, the SIPPClub fee is the same no matter how large or small the SIPP is. At £1500 including VAT, it would seem to make sense only if the SIPP were quite large -- I'd think six figures.
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james
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Post by james on Feb 23, 2015 23:32:47 GMT
Another one I've seen reported as allowing P2P is Mattioli-Woods with a first yer charge of £1,742 then ongoing £862, not published rates, just what was reported over at MSE. |
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