Bestinvest targets SIPP accounts with 30bps clean pricing

Bestinvest looks set to target the mid-tier SIPP market after revealing a clean pricing model beginning at 30bps for SIPP accounts below £250,000.

ISA charges will begin at 40bps below £250,000, while SIPP and ISA investments above that figure will both be charged at 20bps, capped at £1m. The new structure applies to both existing and new investments. Bestinvest will also pay up to £500 towards the cost of any exit fees for investors looking to transfer to its SIPP. The discount broker is the latest firm to undercut Hargreaves Lansdown, whose clean pricing begins at 45bps for ISA investments. Under Bestinvest's new structure, shares, ETFs and investment trusts will also escape the trading fees levelled by Hargreaves, leading ...