SIPPs - ComDirect ?

Jan 23, 2004 4 Replies

Given the recent demise of Charles Schwab Europe before I could setup a SIPP, are there any alternative companies which provide a similar level of service for a reasonable price. Basically I just want an account I can buy and sell shares online, hold cash in it for as long as I like, earning a reasonable rate of interest, that doesn't charge too much in fees.



I've come across ComDirect site, which seems to have been around for a few years now. Anyone care to recommend this service, or perhaps someone else? It's a shame they don't provide an all in one service, and you have to find someone else to administer the fund. I don't need an administrator for my ISA, so why an earth I need one for a pension is anyone's guess.



Kind Regards, Shane Cook.


I think it's the law that requires a pension to have an administrator.

Re your other questions, I use Comdirect and they are pretty good. From the Motley Fool brokers bulletin board they seem to be fairly well thought of and don't get too much of a bashing from unhappy users, they certainly fare better than many other brokers.

Re an all in one solution, I don't know of one, but I would strongly recommend Sippdeal (no connection other than a happy customer). Sippdeal do offer something that at first glance might look like an all in one service, but in fact they contract out the actual sharedealing mechanics to a third party broker (James Brierley - sorry, probably spelt that wrong). As a result of some requests Sippdeal now also offer an alternative called Sippdealxtra where Sippdeal are still the administrators but they give you the flexibility to choose your execution broker from a list of the ones they have tie-ups with, Comdirect is one of the options. I personally have the regular Sippdeal offering because the charging structures are different between the regular and the xtra offerings and, for my pattern of trading, the regular Sippdeal plan using James Brierley as the web broker works out cheaper for me.

Hope all that helps a bit. The address for sippdeal is

formatting link

Good luck.

- Julian

I use Comdirect to deal US and UK shares (not for a SIPP account though) and find them very good, with them charging the same flat rate (12.50/deal)for UK deals and EU/US ones - whether carried out on telephone or online.

Comdirect also have a board on the Motley Fool at

formatting link
which they actively monitor and provide feedback on which is a nice touch.. Therefore, if you have any questions for Comdirect you can ask them there as well/instead of phoning/emailing them

In addition, if you are referred by an existing customer you both get 50 (so if you would like me to refer you just drop me an email:))

Regards Sunil

In message , Shane Cook writes

It might seem as though you do, but in fact you do have an equivalent. It is the ISA wrapper provider.

Because the government rules for pensions are far far far far more complicated than that for ISAs to such an extent That pension fund administrators spend a huge amount of time, er, administering bloody government forms.

Im not justifying it, I think pension rules are ridiculous. But that is the way it is.

Seconded.

See previous comments on the uk.finance archive -

Daytona

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required