Last updated29th September 2017

Reviews

Read reviews for the James Hay Wrap SIPP

Charges

Charges are not subject to VAT
Initial/Set up feeNil
Annual feeFirst £500,000 0.35%

Next £500,000 up to £1million 0.15%

More than £1 million 0.05%

Minimum charge £32 per month.

Fees taken monthly in arrears. Discounted charges for connected wraps
Transfer in feeNil
Transfer out feeNil
In-specie transfer in feeNil
Taking BenefitsNil
Annuity purchase feeNil
Payment of death benefits feeNil
Other feesTransaction fee £20 per instruction for Investment Centre trades by fax, post, telephone or secure message.

£20 per instruction by fax or post per investment provider for non-Investment centre trades.

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsOur secure online reporting system offers a full audit trail of transactions, asset histories and online communications. The service is available 24 hours a day, 7 days a week to Financial Advisers, Clients and Authorised Third Parties. There are a range of intuitive tools and features available including: performance reporting, asset allocation, daily valuations, transfer summaries, contribution summaries, breakdown of pension input periods, income & PAYE details, secure messaging facility, literature library, technical guides, Selftrade trading terminal, cross client analysis, document store, illustrations, fund research, trade tracking, cash alerts, IM money movements, adhoc and regular buys, sales and switches, model portfolio setup and re-balancing.

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICS
External deposit accounts Subject to restrictions
Overseas listed stock and shares
UK listed stocks and shares
AIM shares
Gilts/corporate bonds
ETFs
Investment trusts
Discretionary management
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£600, if a panel solicitor it used, £1,100 if a non panel solicitor us used
Sale fee£450, if a panel solicitor it used, £800 if a non panel solicitor us used
Annual property administration fee£525 (first lettable unit/lease in each property) then £450 (each additional lettable unit/lease in each property), if self-managed

£950 (first lettable unit/lease in each property) then £550 (each additional lettable unit/lease in each property), if managed by CBRE
VAT registration fee£120
VAT return fees£100 per year
Other feesPurchase charge per additional member, £100

Annual charge per additional member, £100 per annum

SIPP Bank Account

SIPP bank account providerSantander
Current interest rate0%

Structure

Scheme trusteesJames Hay Pension Trustees Ltd
Scheme administratorJames Hay Administration Company Ltd

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipWholly owned by IFG Group Plc
Year established1979
Funds under managementApproximately £23 billion (March 2015)
Number of SIPPs administeredApproximately 56,000 (March 2015)
Defaqto ratingFive Stars

Transfers

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

Misc

Flexi-Access Drawdown/UFPLS offeredYes
Scheme Pension offeredNo
Notes