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SIPP Deposit accounts
Tim Blaxter
Posted: 06 November 2017 10:55:29(UTC)

Joined: 07/12/2015(UTC)
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My SIPP is with Hargreaves Lansdown. They pay almost nothing on cash in the SIPP so I want to open a SIPP Deposit account. One of the best rates is with Close Brothers but they will only accept instructions from HL; it is not, in their eyes, an ordinary transfer that I can initiate. HL say they won't do this.

So I will have to transfer my entire SIPP to another provider that will help, or I will have to find a SIPP deposit account that will accept an 'ordinary' SIPP transfer in cash.

Has anyone gone through this? Or any suggestions for a SIPP provider that would assist or a deposit account that will accept a transfer instructed by me?

Jim S
Posted: 06 November 2017 15:20:41(UTC)

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If you're looking for diversification, how about a more defensive fund? CF Ruffer Total Return, Hawskmore Vanbrugh, Newton Real Return something like that.

Then you could keep some of your SIPP in cash (0%), and some in defensive

I'm thinking it might be a lot less hassle than changing SIPP provider
1 user thanked Jim S for this post.
Tim Blaxter on 07/11/2017(UTC)
bill blayney
Posted: 06 November 2017 17:04:42(UTC)

Joined: 30/03/2012(UTC)
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hi tim
if you go to investment sense website they have good info on sip providers, a company called investacc from carslisle do a simple sip for deposit accounts and are reasonable fees, they will provide access to close bros.
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Tim Blaxter on 07/11/2017(UTC)
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