Last updated31st March 2017

Reviews

Read reviews for the Charles Stanley Alpha SIPP

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up feeNone
Annual fee£250
Transfer in fee£125
Transfer out fee£125 to UK scheme

£250 to overseas scheme
In-specie transfer in feeNot available
Taking benefitsFirst benefit crystallisation event, nil

Second and subsequent events, £100 per event

Review of Capped Drawdown income limits, £150 per review

Annual payroll fee, £50

Alterations to regular payments or one-off payments, £25 per alteration or payment

Annuity purchase fee
Payment of death benefits feeTime costed, typically £500
Other feesAccount closure (charged in addition to any other fees if closure within 2 years of opening) £250

Return of overpaid contributions, £75

Pension Sharing work, time costed, typically £700

Collective portfolio service:

Annual charge, 0.75%

Initial commission, none

Dealing commission, none

Execution only portfolios:

Direct equity investment, £150 per annum

Dealing commission for UK securities, between 0.15% and 0.75% dependent on size of deal (minimum £25)

Dealing commission for overseas securities, between 0.275% and 1.25% dependent on size of deal (minimum £75)

Transaction charge, applied to all transactions (except, considerations over £24,999, UK sales worth less than £100 or all execution-only and Collectives Portfolio Service
transactions) , £15

Withdrawal or transfer of shares, £10 per holding

Management

Access: Direct or via IFABoth

Online capability

Details

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICSVia in house platform only
External deposit accounts
Overseas listed stock and sharesVia in house stockbrokers only
UK listed stocks and sharesVia in house stockbrokers only
AIM sharesVia in house stockbrokers only
Gilts/corporate bondsVia in house stockbrokers only
ETFsVia in house stockbrokers only
Investment trustsVia in house stockbrokers only
Discretionary managementVia Charles Stanley only
National Savings & Investments
Unlisted shares
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans
Intellectual property
Brands / Trademarks
Goodwill
Third party loans

Property purchase

Purchase fee
Sale feeN/A
Annual property administration feeN/A
VAT registration feeN/A
VAT return feesN/A
Other feesN/A

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rate0.1% per annum

Structure

Scheme trusteesEBS Management PLC
Scheme administratorEBS Management PLC

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

Ownership100% owned by Charles Stanley PLC
Year established1970
Funds under management£24bn as at 31 March 2017
Number of SIPPs administeredNot disclosed
Defaqto ratingNone

Transfers

Accepts benefits from defined benefit / final salary schemes?Yes, if IFA advised

Misc

Flexi-Access Drawdown/UFPLS offeredYes
Notes

 

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Charles Stanley Alpha SIPP

The Charles Stanley Alpha SIPP is owned by Charles Stanley PLC.

The Charles Stanley Alpha SIPP offers access to a more restrictive range of assets than the EBS SIPP, also owned by Charles Stanley PLC, but does allow investors to purchase a wide range of stocks and shares, Unit Trusts, OEICs, gilts, corporate bonds Investment Trusts and Structured Products.

Additionally, it can be used by investors who wish to access the discretionary fund management offered by Charles Stanley.

The mandated SIPP bank account is held with Bank of Scotland and pays an interest rate of 0.1% per annum. Investors cannot access external deposit accounts through this SIPP.