Barclays cuts SIPP charge as price war continues

New and existing SIPP investors will be charged an administration fee of £155 plus VAT per annum, reflecting a 23% discount on the previous charge of £200. This administration fee comprises of a £30 investment account charge payable to Barclays Stockbrokers and a wrapper fee of £125 plus VAT which is paid on to the administrator, AJ Bell. Barclays Stockbrokers will continue to waive its SIPP administration fee if a client is fully invested in funds. Barclays Stockbrokers director Alastair Thaw said: "RDR has provided us with an opportunity to revise not only our funds charging stru...