Freetrade SIPP is here!

Just saw the notification from freetrade that their SIPP is account is up and running…

To be honest I think we cannot compare t212 with freetrade as it feel like comparing a spaceship with a Yugo car.(A Quick Look at the Yugo, the Worst Car in History)

But seems that they found that way in order to steal some accounts and AUM from t212 as seems impossible they to catch up on something else.

Are you going to allow them do that or you plan to help them get out business?? @Team212 @David @Rumen

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This is a must have to be honest, if they implement a minimum investment amount I’m sure this could really work.
Also the jisa, with the fact these kids will wake up one day with money and an account that they would automatically trust to trade on seems like a great long term advertising plan to gain new users?

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Absolutely agree with the JISA point, people like familiarity so being there from a young age is great for brand loyalty.

But they’re not choosing not to make it, there’s a lot of work to get there accounts set up and the delayed isn’t always the teams fault, e.g. waiting on emails from relevant authorities.

The SIPP is the priority account then after I assume is the JISA and the LISA

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Steal accounts?

The UK has 50+ million adults and only a couple of million are actively investing (e.g excluding an automatic company pension). There’s no need to steal accounts from 212 or anyone else when there’s a market of tens of millions of uninvested Britons.

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What’s a SIPP account? :thinking:

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Self invested personal pension

From the DMs I’ve made over the past week, it is unlikely SIPP will land in T212 this financial year :frowning:

Issue is that freetrade SIPP brings in 10gbp per account every month and this will help freetrade to be around for long.

I believe that t212 business plan should be to get them totally out of business and dominate the free trades brokerage market by making every new player unable to enter. At least for the European market as US having a number of “free” platforms already. T212 was always a step ahead of freetrade so far. Instant trades from the beginning, new markets earlier, pies, etc…and they desperately found something to bring money in.

Also spoke with enough people who personally don’t know why they believe that it’s better having all your account types under a single brokerage.

Competition is good for innovation and prices, so it’s a no from me on Trading212 monopolising the neobroker market.

Besides, it’s not a winner takes all market anyway. Similar to the banking winners takes most fintechs, there will be Freetrade, Stake and Trading212 in the U.K. like there is Revolut, Starling & Monzo to challenge the incumbents.

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To be honest, until we have the option to invest in mutual funds, I don’t think a SIPP is of much value here but that is just my opinion.

A sipp is just a pension savings format, what you put it in is irrelevant really.

How much do freetrade charge and will they accept fund of funds, multi asset etc

Rebalancing? Vanguard Lifestrategy?

I’m in this camp too, won’t be moving my Sipp unless funds are available. I prefer more of a set-and-forget approach with my pension, leaving stock picking etc to my Isa. That said, I think I’m right in saying you can open and contribute to multiple Sipps at once, so I could be tempted to get another going with investment trusts.

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Tell us more? :frowning: is that the official stance?

Not really. To me the product you choose to invest in comes first, then its wrapper/how you access it.

Saying what you put in your SIPP is irrelevant, to me is like saying you should put 100% of your pension in cash.

@Dougal1984 So a sipp has no value unless you can invest in mutual funds?
So what we all do with all other investments is worthless because they are not held in mutual funds?
I think you’ve got your wires crossed.

To me you’ve said a sipp through t212 is worthless for everyone unless you can choose mutual funds.
I’ve said a sipp is just a form of pension so if we had access to it on t212, what we all choose individually to put in it becomes irrelevant to its purpose ie t212 don’t need to know what we are investing in before they offer it.

That’s like saying an isa has no importance if you can’t invest in crypto

A SIPP is a valuable wrapper just like an ISA and its variations, and as you suggested earlier, possibly unintentionally, the contents of the SIPP are ‘irrelevant really’. I never mentioned that a SIPP has no value, those are your words, more it has little value to me in its current form and I will explain why.

To me, the options you have available to invest in, are highly relevant particularly for a pension plan, and how you access those investments come a close second.

Myself, I do not want to micromanage my pension on a day to day basis, and I suspect most others do not as well. There are a lot of great pension products setup out there in the market specifically for this purpose, and until these are made available in a 212 SIPP, it would not be of value to me opening a SIPP with 212. Others have posted similar on this forum as well.

I made no reference to ‘all other investments is worthless’, those are your own words.

You are welcome to have your own opinion as I value open discussions, and I wish you well investing in crypto in your pension.

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micromanage?

Have you seen the pies?

Yes I am trialling a few of my own.