Last updated19th September 2016

Charges

Initial/Set up fee£0
Annual fee£100 plus VAT, deducted quarterly in arrears

Annual platform charge on all securities including funds, equities, bonds, fixed term cash deposits and notice accounts, deducted monthly in arrears:

Asset value up to £1 million 0.30% (£60 minimum)

Asset value between £1 million and £3 million, 0.10%

Asset value in excess of £3 million, further discounts available on application

Additional platform charge on all securities for those clients without an adviser, 0.5%
Transfer in fee
Transfer out fee£100 plus VAT per transfer
In-specie transfer in fee
Taking benefitsDrawdown Annual Administration £150 plus VAT per year, deducted quarterly in arrears

Ad hoc SIPP payment (FAD or UFPLS) £50 plus VAT per request

Closure of SIPP due to drawdown of full SIPP value £100 plus VAT

Additional feesAd hoc payment of pension income, £50

To establish a Flexible Drawdown arrangement, £75
Annuity purchase fee£100 plus VAT
Payment of death benefits fee£100 plus VAT
Other feesDealing costs:

Electronic Exchange Traded Assets (outside a model portfolio) £9.50 per deal

Non-electronic* Deal, £20 per deal

*includes Structured Products, Fixed term deposit and notice accounts and posted contract note trades £20 per deal

Cancellation of any unexecuted order, £9.50 per deal

Issue of ad-hoc hard copy valuations or additional tax vouchers £25 plus VAT per request

Response to accountants or auditors £50 plus VAT minimum

Issue of paper contract notes £10

Unpaid cheque £50

Application for reduced rate of US Withholding Tax £50 plus VAT per year

Submission of W-8BEN form £100 plus VAT per form submitted




Model Portfolios

Dealing with model portfolio funds (electronic), £2 per deal

Dealing with model portfolio funds (manual), £4 per deal

Dealing with model portfolio shares, £4 per deal

Electronic dealing within a Discretionary Fund Manager model portfolio, £1 per deal

Manual dealing within a Discretionary Fund Manager model portfolio, £3 per deal

Model portfolio client charge, £60 per annum

Other:

Payment of fund under triviality commutation, £75

Payment of fund under ill health rules, £100 plus VAT

Adminstration of divorce benefits £100 plus VAT

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsThe Ascentric SIPP offers a trading platform which allows the investor and adviser to purchase selected assets within a client's SIPP product.

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICSAll platforms allowd
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 loans

Property purchase

Purchase fee N/A
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 providerIFDL Nominee splits its money between a range of regulated deposit takers. Rates from 1st February 2016
Current interest rate£0 - £49,999, 0.00%
£50,000 - £149,999, 0.05%
£150,000 - £249,999, 0.10%
£250,000 plus, 0.15%

Structure

Scheme trusteesIFDL
Scheme administratorIFDL

Minimum contributions

Regular payments£100 per month if contributions are made by direct debit

No minimum if contributions are made by standing order
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipAscentric is majority owned by Royal London Group (RLG)
Year established2009
Funds under management£11 billion across the platform
Number of SIPPs administeredTBC
Defaqto ratingThree Stars

Transfers

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

Misc

Flexi-Access Drawdown / UFPLS offeredYes
Scheme Pension offeredNo
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Ascentric Pension Account

Ascentric is predominantly owned by the Royal London Group. Having been established in 2009 it now has over £11 billion in assets under management across the platform.

The Ascentric Pension Account is only available via Independent Financial Advisers and cannot be opened directly by an investor.

The Ascentric Pension account allows access to a wide range of investments including directly held securities, funds and OEICs, third party deposit accounts, other platforms, and discretionary fund managers.

It does not allow investment into commercial property.

Unusually the mandated SIPP bank account is not held with a single bank but a number. The interest rate is tiered with larger amounts paid for higher balances.