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Weekend reading: Vanguard is ready to let you SIPP

7

What caught my eye this week.

Hard to make this sound anything like a (not paid for) plug, but I’m sure our many readers who’ve been waiting for it will all want to know that Vanguard is finally ready to take your money into its Personal Pension (SIPP).

I covered the main features of Vanguard’s SIPP back in December, so won’t repeat that again. Instead here’s a couple of other articles that have run to mark the launch.

From ThisIsMoney:

Jeremy Fawcett, head of Platforum, said the Vanguard Personal Pension’s competitiveness compared with Sipps offered by 14 other leading platforms across a range of investment scenarios, makes it ‘one of the lowest-cost options on the market, especially for those at the beginning of their journey’.

The research consultancy found that a typical investor would pay £172 per year to invest a £40,000 annual Sipp contribution, compared to an average of £238 on competitor platforms, with the most expensive charging £396.

And from the Financial Times [Search result]:

The Vanguard SIPP is initially only available to savers who are still building their pensions, or in accumulation, but is expected to open to retirees drawing on their pensions from the start of the 2020/21 tax year. This is a significant market.

There were 984,583 pension drawdown policies in existence at the end of March 2019, according to the results of a Freedom of Information request submitted by Hargreaves Lansdown to the Financial Conduct Authority.

It’s worth noting the Vanguard SIPP option may not be the cheapest in every case. Depending on how you want to construct your pension, it could not even have all the building blocks you need either, as it’s limited to Vanguard’s own funds.

Still, I think it’s probably going to Vanguard-ize the UK personal pensions industry in pretty short order. We can discuss what ‘Vanguard-ize’ means in the comments!

Have a great weekend.

From Monevator

Oops. One of those weeks. For starters The Accumulator was doing sums for his next SWR article. For my part, I had all sorts on. We must try harder!

From the archive-ator: Do great investors live longer? – Monevator

News

Note: Some links are Google search results – in PC/desktop view you can click to read the piece without being a paid subscriber. Try privacy/incognito mode to avoid cookies. Consider subscribing if you read them a lot!1

Growing numbers of British firms say coronavirus outbreak is hitting their supply chains – ThisIsMoney

The huge AirBnB scam that’s taking over London – WIRED

Secretive UK tax unit homes in on rich families [On Family Investment Companies; search result]FT

Housing market looks set for spring surge, as January sees highest level of property sales for two years – ThisIsMoney

UK’s cash economy ‘close to collapse’ – Guardian

The dangerous democratization of alternative assets – Institutional Investor

Products and services

How to ‘do the splits’ on your mortgage [Search result]FT

New polymer £20 featuring painter Turner enters circulation – BBC

Premium Bond prize rate to be cut to 1.3%… – MoneySavingExpert

…while Nationwide launches a lottery-style savings account – ThisIsMoney

You can still claim your free share from Freetrade [and I get one, too]Freetrade

How to invest in rare books – ThisIsMoney

Price of first class stamps to rise 6p to 76p – BBC

RateSetter will give you £20 [and me a cash bonus] within 30 days of you putting in your first £10 – RateSetter

Shared ownership homes for sale [Gallery]Guardian

Comment and opinion

Avoid the zeroes – Of Dollars and Data

Garbage time – Humble Dollar

Picking bad stocks – XKCD

Merryn Somerset-Webb: Pensions tax relief is on a slippery slope [Search result]FT

Event horizon: The safe withdrawal rate, annuities, and the brutal reality of low interest rates – Finimus

The value of advice: Improving portfolio diversification [Research paper, PDF]Vanguard

When does investing become speculation? – Morningstar

One portfolio risk to rule them all – Movement Capital

Bobby Seagull: The puzzle of managing money [Search result]FT

Resigned to my fate – The FIREStarter

The biggest truth in personal finance – Get Rich Slowly

Your cheating’ wallet: On financial infidelity – New York Times

This one change can improve your retirement wealth by 50% [US wrappers, but relevant]MarketWatch

Dow 100,000 – Klement on Investing

Day-trading déjà vu

Small investors on epic buying spree fueled by free trades; drove up price of Apple and Tesla – Bloomberg

More Reddit: bull attack [Search result; Stock pumping retail day traders are back, this time using options]FT

Naughty corner: Active antics

Hunting for sustainable dividend growth [PDF]UK Value Investor

Larry Swedroe: Value investors should follow their heads, not their stomachs – Evidence-based Investor

Avalanche accidents and investment risk – Behavioural Investment

Manchester and London Trust: Long the future – IT Investor

Venture capital: Worth venturing into? – Factor Research

Politics and Brexit

[Click to enlarge]

Why is the UK arguing about a Brexit matter that is already agreed? [Search result]FT

UK to close doors to non-English speakers and unskilled workers – Guardian

The end of free movement: This is a nation dismantling itself over nonsense – Politics.co.uk

Kindle book bargains

Lab Rats: Why Modern Work Makes Us Miserable by Dan Lyons – £2.99 on Kindle

Secrets of Sand Hill Road: Venture Capital—and How to Get It by Scott Kupor – £1.99 on Kindle

Hit Refresh: A Memoir by Microsoft’s CEO by Satya Nadella – £1.99 on Kindle

Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Harv Eker – £0.99 on Kindle

Off our beat

What’s in your jar of awesome? – RAD Reads

JP Morgan economists warn climate crisis is a threat to human race – Guardian

100 little [big] ideas – Morgan Housel

How NOT to run a business – Charles Sizemore

Can a shorter workweek make people happier? [Graphic]Visual Capitalist

SpaceX has plans to fly tourists twice as high as the International Space Station – New Scientist

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  1. Note some articles can only be accessed through the search results if you’re using PC/desktop view (from mobile/tablet view they bring up the firewall/subscription page). To circumvent, switch your mobile browser to use the desktop view. On Chrome for Android: press the menu button followed by “Request Desktop Site”. []

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