The move demonstrates AJ Bell’s commitment to maintaining Sippcentre’s position as one of the best value SIPP, ISA and General Investment Account (currently known as the Dealing Account) platforms available to advisers. Central to the new structure is a ‘basis points charge’ that applies to all assets held on Sippcentre’s in-house Funds & Shares Service (currently known as the Advisory Option).
These charges are applied depending on the wrapper used, and the amount invested using our in-house Funds & Shares Service
VAT is payable in addition on the above charges.
Apart from the new waivers described above, the SIPP wrapper administration charges will remain at the same competitive rate as before, and both ISA and GIA wrappers will continue to enjoy zero administration charges.
Andy Bell, Chief Executive of AJ Bell, says: “It has been a year since we extended Sippcentre to include an ISA and a GIA. We have been delighted with the momentum that has built up over this initial period, with more and more new and existing advisers adopting us as one of their platforms of choice. I believe that our actuarial background and experience of administering products at the complex end of the spectrum, combined with the fact that we are one of the few adviser platforms with membership of the London Stock Exchange, places us in a unique position to lead the way on post RDR pricing in the adviser platform space.”
Bell added: “Whilst this charging structure is new, our proposition continues to focus on a blend of price, service and functionality. Using the example of a SIPP client with £250,000 invested in our in-house Funds & Shares Service, they will be charged 0.20% p.a. for our platform, which will be at the sharp end of the market.”
AJ Bell is one of the UK’s largest and most profitable investment platforms, with assets under administration of £16 billion.