Last updated21st July 2014
Jeff Steedman (North) 01786 237 053

Simon Perry (South) 07436 795970

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Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up feeNone
Annual fee0.24% of the fund

£174 minimum charge per year

£570 maximum charge per year
Transfer in fee£58 per transfer
Transfer out fee£430 for closure of the SIPP, plus £129 per transfer
In-specie transfer in fee£169 per transfer
Income DrawdownInitial: £129

Ongoing: £13 per payment (monthly, quarterly, half yearly, annually income options)
Additional Income Drawdown feesNone
Annuity purchase feeNone
Payment of death benefits feeNone
Other feesStandard Investments:

Purchase and sale of standard investments e.g. Unit Trusts, OEICs, Trustee Investments, and other Pension, 0.25% of the amount invested, charged for the purchase and for the sale, subject to a minimum of £30 and a maximum of £113

Annual administration for standard investments £68 for the first investment, £136 for two or more investments

Bank accounts:

Establishment of additional bank accounts, 0.25% of initial deposit subject to a minimum of £30 and a maximum of £113

Annual administration for bank accounts £68 for the first investment, £136 for two or more investments

Stockbroker & DFM Accounts:

Establishment of Stockbroker or Discretionary Fund Management, £124

Annual administration for Stockbroker or Discretionary Fund Management, £68

Unquoted Shares:

Purchase of unquoted shares, £600

Sale of unquoted shares, 0.25% of the amount sold, subject to a minimum of £30 and a maximum of £113

Annual administration of unquoted shares, £290

Complex investments:

Purchase of other investments e.g. Futures, Traded Endowment policies, Venture Capital Trusts, Hedge Funds, Options, Overseas Equities, Contracts for Difference, £345 (indicative fee)

Sale of other investments, 0.25% of the amount sold, subject to a minimum of £30 and a maximum of £113

Annual administration of other investments, £68 for the first investment, £136 for two or more investments

Lending to unconnected third parties:

Preparation of loan paperwork and arranging security, £145 per loan

Annual administration, £145 per loan

Management

Access: Direct or via IFABoth

Online capability

DetailsA secure online portal is provided for both Adviser and member. Principle Adviser can access all advised clients, or drill down to individuals. Provides online valuations including live scheme account. Online access to Fundsdirect trading accounts.

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 shares
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 70% of the value of the fund, on a secured basis only

Property purchase

Purchase fee£825
Sale fee£415
Annual property administration fee£510 per property per lease
VAT registration feeNone
VAT return feesNone
Other feesBorrowing fee, £255

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rate£0 - £9,999 - 1% below Bank of Scotland base rate

£10,000 - £49,000 - 0.5% below Bank of Scotland base rate

£50,000+ - 0.25% below Bank of Scotland base rate

Structure

Scheme trusteesXafinity Pension Trustees Ltd
Scheme administratorXafinity SIPP Services Ltd

Minimum contributions

Regular paymentsNo minimum
Transfers/Single Premiums£25,000
Min additionalNo minimum

Company Information

OwnershipThe Xafinity Group is owned by CBPE Capital LLP, a private equity firm formed in 1984.
Year established2007
Funds under managementNot disclosed
Number of SIPPs administered1,300
Defaqto ratingFive Stars

Transfers

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

Misc

Flexible Drawdown offeredYes
Scheme Pension offeredNo
Notes

Need advice on your SIPP?

The Investment Sense SIPP team

Contact our team of SIPP specialists today:

0115 933 84330115 933 8433

info@investmentsense.co.uk

Online enquiry form

Xafinity SIPP

Xafinity offer two SIPPs (Self Invested Personal Pensions) as well as a SSAS (Small Self Administered Scheme).

Xafinity administer over 1,000 SIPPs.

The Xafinity SIPP has wider investment powers than the Simply SIPP, for example it can invest in unlisted shares and commercial property, which are not available in the Xafinity Simply SIPP.

Unusually the Xafinity Full SIPP has no initial charge and the annual fee is based on a percentage of the amount invested with a cap and collar on these fees.

The Xafinity Full SIPP is only available through IFAs (Independent Financial Advisers) and has no minimum regular contribution, although a minimum transfer in or lump sum of £25,000 is required.

The mandated SIPP bank account is held with Bank of Scotland, which pays less than Bank Base Rate for all balances. Investors looking to hold significant amounts of Cash can however access other deposit accounts.