Last updated3rd May 2017

Reviews

Read reviews for the City Trustees Bespoke SIPP

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up fee£260
Annual fee£430 plus a further £410 for multiple or bespoke assets ( not incl property -see below)
Transfer in fee£90 per transfer
Transfer out feeTime costed, £180 per hour, average time spent 3 hours.
In-specie transfer in feeCharged in line with investment transaction fees
Taking BenefitsConversion to Flexi-Access Drawdown, £150

Establishment of Flexi-Access Drawdown, £220

Benefit reviews, £170

Further crystallisations, £170 per event
Annuity purchase feeTime costed, £180 per hour
Payment of death benefits feeTime costed, £180 per hour
Other feesContributions:

Single £30

Establishment of regulars £30

Investments:

Standard investments, e.g. OEICs, Unit Trusts, nominee share dealing accounts, £30 per transaction

Sophisticated e.g. Hedge Funds/UCIS, £120 per transaction

Non-standard specialist investment review: £995 - charged even if does not proceed

Other fees:

Ad-hoc valuation fee £180 per hour

Divorce, pension sharing and earmarking orders and information requests on a time cost basis £180 per hour

Trustee meeting, £180 per hour

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsNo at present, currently being developed

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICSAll platforms allowed
External deposit accountsUnrestricted access to all 'sippable' deposit accounts
Overseas listed stock and sharesAll stockbrokers allowed
UK listed stocks and sharesAll stockbrokers allowed
AIM sharesAll stockbrokers allowed
Gilts/corporate bondsAll stockbrokers allowed
ETFsAll stockbrokers allowed
Investment trustsAll stockbrokers allowed
Discretionary managementUnrestricted access
National Savings & Investments
Unlisted sharesStart ups and established companies. Subject to pre-approval.
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans
Intellectual property
Brands / Trademarks
Goodwill
Third party loansSubject to a maximum of 100% of the fund on both a secured and unsecured basis

Property purchase

Purchase fee£660 MW legal appointed

£810 non-MW legal appointed
Sale fee£660 MW legal appointed

£810 non-MW legal appointed
Annual property administration fee£440
VAT registration fee£180 per hour
VAT return fees£180 per hour
Other feesLeases: New, Amendments and Replacements, £180 per hour

Rent review, £180 per hour

Borrowing (liaising with lender over facility letter etc), £180 per hour

Property developments, time costed, £180 per hour

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rate0 to £49,999, 0.1%

£50,000 to £99,999, 0.15%

£100,000 plus, 0.25%

Structure

Scheme trusteesCity Trustees Ltd
Scheme administratorCity Pensions Ltd

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipOwned by the Mattioli Woods Group
Year establishedCity Trustees 1996, Mattioli Woods 1991
Funds under management£4 Billion
Number of SIPPs administeredApproximately 6,000 SIPP & SSAS schemes
Defaqto ratingNot available

Transfers

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

Misc

Flexible Drawdown offeredYes
Scheme Pension offeredYes
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

City Trustees SIPP

City Trustees is a subsidiary of Mattioli Woods plc which advises over 6,000 SIPP and SSAS schemes, with over £4 billion of assets under management.

The City Trustees SIPP is hugely flexible and allows access to a wide range of investments including commercial property, listed and unlisted shares, loans, as well as the purchase of intellectual property, goodwill and brands.

The City Trustees SIPP is only available via independent financial advisers but has no minimum contribution levels. It is available to receive transfers and can be used for flexi-access drawdown and Uncrystallised Fund Pension Lump Sum should this be required.

The mandated SIPP bank account is held with Bank of Scotland with a tiered rate of interest depending on the balance held.