|Last updated||21 November 2018|
|Charges are not subject to VAT
|Initial/Set up fee||None|
|Annual fee||A tiered charge is made dependent on fund size:
0.36% £0 - £749,999
0.33% £750,000 - £999,999
0.30% £1,000,000 - £1,499,999
0.25% £1,500,000 +
|Transfer in fee||None|
|Transfer out fee||None|
|In-specie transfer in fee||None|
|Taking benefits||Initial: None
|Annuity purchase fee||None|
|Payment of death benefits fee||None|
|Other fees||Buy or sell securities via in house online platform, £12.50|
|Access: Direct or via IFA||Via IFA only
|Details||The Elevate platform (through which the Elevate Pension Investment Account is available) allows for client level view only access, upon adviser authorisation. Clients can view their portfolio online, including transactions and performance information and documentation.
With Elevate your advisers can set up four user access levels which are discussed in detail as part of the onboarding process to ensure your users are set up appropriately, giving you greater control over your risk and compliance process. This creates a robust, consistent sales process by controlling access levels for your advisers and providing a consistent client experience
|Unit trusts & OEICS||All platforms allowed|
|External deposit accounts||Subject to restrictions|
|Overseas listed stock and shares|
|UK listed stocks and shares||in house stockbrokers only|
|AIM shares||in house stockbrokers only|
|Gilts/corporate bonds||in house stockbrokers only|
|ETFs||in house stockbrokers only|
|Investment trusts||in house stockbrokers only|
|Discretionary management||Via limited panel of managers|
|National Savings & Investments|
|Peer to Peer lending|
|Trustee Investment Plans|
|Insurance company funds|
|Traded endowment plans|
|Brands / Trademarks|
|Third party loans|
|Annual property administration fee||N/A|
|VAT registration fee||N/A|
|VAT return fees||N/A|
SIPP Bank Account
|SIPP bank account provider||Royal Bank of Scotland, Bank of Scotland & Cater Allen|
|Current interest rate||0.35%|
|Scheme trustees||Standard Life Company|
|Scheme administrator||Elevate Platform Services|
|Regular payments||£100 per month
£500 half yearly
|Ownership||Elevate Portfolio Services Limited - which trades as Elevate - was acquired by Standard Life Savings Limited in 2016 and now forms part of Standard Life Group.
Standard Life is an investment firm in the UK and globally. We're committed to providing you with savings, investment and insurance products. With over 5 million customers trusting us to manage £273.5 billion of their assets every day, we've been helping people prepare for their future since 1825 (data as of 31 December 2017).
Together Elevate and Standard Life Wrap create one of the UK's largest and fastest growing adviser platform businesses with combined assets under administration of over £56.3 billion, a total of over 420,000 customers and combined net asset inflows of £4.7 billion in the last 6 months (as at 30 June 2018).
|Year established||Standard Life established 1825|
|Funds under management||Elevate has over £56.3 billion in assets under management by the end of June 2018.
|Number of SIPPs administered||Not disclosed|
|Accepts benefits from defined benefit / final salary schemes?||No|
|Flexi-Access Drawdown/UFPLS offered||Yes|
|Scheme Pension offered||No|
Elevate Pension Investment Account
The Elevate Pension Investment Account (PIA) is a Self Invested Personal Pension which is part of Standard Life group
In common with many other life assurance companies, who offer SIPPs, the charging structure is based on a percentage of the amount invested and is only available through IFAs (Independent Financial Advisers).
Whilst offering a wider range of investment options than other retirement solutions such as a Personal Pension Plan or Stakeholder pension, the Elevate PIA still has a number of restrictions, for example it will only allow a selected panel of SIPP deposit accounts, whereas a large number of their competitors permit all available SIPP deposit accounts.
SIPP investors can only access the Elevate PIA via an IFA and the minimum contribution is set at £100 per month or a lump sum or transfer in of £1,000.
The mandated SIPP bank account is held within a mix of Royal Bank of Scotland (RBS), Bank of Scotland & Cater Allen and pays a rate of interest of 0.35%.