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Can you actually open a SIPP account with IG?


SammyM

Question

When I try to "add an account" and then click on SIPP, I get the message below. Does this mean that new clients can't yet open a SIPP account? Do you know when the new SIPP solution will be available? "Add account - IG SIPP - Coming Soon - A new way to invest for your retirement is coming soon. We will let you know as soon as you can open an IG SIPP."

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I’ve been told by IG that they are changing SIPP providers. However that was in early January and to my knowledge it’s not been possible to open a newSIPP through IG for at least 3 months. I don’t understand why it should take so long.

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Guest Al 2000

And today I went through the whole account starting up process only to discover that I can open a trading account, but not a SIPP - despite being advertised.

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Guest any news on the SIPP?

Any update on IG providing a SIPP cannot find the option either to open a SIPP

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No dates yet. James Hay stopped taking new clients from IG in October 2020 and IG have been promising to give details of a new provider since then. Despite saying in January it would be a few months, there is still no news. They also agreed to update the website but I'm not aware that they've done this yet. Beginning to think Interactive Investor might be a better option.

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On 14/04/2021 at 15:44, MichaelM47 said:

No dates yet. James Hay stopped taking new clients from IG in October 2020 and IG have been promising to give details of a new provider since then. Despite saying in January it would be a few months, there is still no news. They also agreed to update the website but I'm not aware that they've done this yet. Beginning to think Interactive Investor might be a better option.

Hey all, 

Regretfully, we’re currently not able to take on any new SIPP applications. We hope to offer new SIPP accounts soon and are working on contracting with a new provider.

Once we’ve established a solution, notifications will be provided either via email and/or banners on our website, and you’ll then be able to apply for a new SIPP account online through your My IG dashboard.

Thank you for your patience and understanding.

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Thanks Charlotte. It would be great to have even a rough idea of what "soon" means though. 3 months? 6 months? 2 years? I appreciate you won't be able to be specific but an indicative timeline would be great.

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Well - by my reckoning it’s now 8 months since IG stopped taking new SIPP clients. It does make me wonder whether they really want to continue operating in this space. The delay in completing negotiations must be due to management setting this as a low priority as even the most incompetent could have come up with a solution by now. 
Or is there a hidden agenda and they are negotiating a sale of this part of the business? 

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Apparently not - after 9 months wai I'm looking at alternatives ( this is for my daughter) and so far I'm veering towards Interactive Investor www.ii.com . They appear to have similar functionality and their fee structure is competitive. Does anyone have direct experience of them? 

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1 hour ago, MichaelM47 said:

Apparently not - after 9 months wai I'm looking at alternatives ( this is for my daughter) and so far I'm veering towards Interactive Investor www.ii.com . They appear to have similar functionality and their fee structure is competitive. Does anyone have direct experience of them? 

The correct link is www.ii.co.uk FYI. Just in case anyone else was interested. Cheers. 

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