Last updated 23 May 2019
Charges are not subject to VAT
Initial/Set up fee None
Annual fee First £500,000, 0.3%
Next £500,000, 0.2%
Over £1,000,000 0.1%
Transfer in fee None
Transfer out fee None
In-specie transfer in fee None
Income Drawdown Initial: None
Additional Income Drawdown fees
Annuity purchase fee None
Payment of death benefits fee None
Access: Direct or via IFA Via IFA only
Fully online service for advisers and clients including real time valuations, trading, portfolio analysis, online document store, transaction reports, KIIDS, dashboard, secure messaging.
Commercial property Overseas property Unit trusts & OEICS Via in-house platform only
External deposit accounts Overseas listed stock and shares All stockbrokers allowed
UK listed stocks and shares All stockbrokers allowed
AIM shares All stockbrokers allowed
Gilts/corporate bonds All stockbrokers allowed
ETFs All stockbrokers allowed
Investment trusts All stockbrokers allowed
Discretionary management Unrestricted 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
Purchase fee N/A
Sale fee N/A
Annual property administration fee N/A
VAT registration fee N/A
VAT return fees N/A
Other fees N/A
SIPP Bank Account
SIPP bank account provider Barclays
Current interest rate 0.25% below base rate
Scheme trustees Wealthtime Trustees Limited
Scheme administrator Wealthtime Limited
Regular payments No minimum
Transfers/Single Premiums No minimum
Min additional No minimum
Ownership Wealthtime Limited
Year established 2006
Funds under management £560 million
Number of SIPPs administered 1,548
Defaqto rating Five Stars
Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised
Flexible Drawdown offered Yes
Scheme Pension offered
Wealthtime was established in 2006 and currently has over 1,500 SIPPs (Self-Invested Personal Pensions) with £560 million funds under management.
The Wealthtime SIPP is only available through IFAs (Independent Financial Advisers) and has a relatively unusual charging structure with no initial fee and an annual fee based on the amount invested.
There is no minimum contribution needed to open a Wealthtime SIPP.
The SIPP offers access to a wide range of investments, however commercial property is not allowed.
Wealthtime’s SIPP bank account provider is Barclays with the interest rate set at 0.25% below Bank Base Rate.