GHC launches low-cost Sipp
Investment house partners with Intelligent Money to meet adviser Sipp wrapper demand.
Investment service provider GHC Capital Markets has launched a low-cost self invested personal pension in partnership with Sipp provider Intelligent Money.
Available to clients using GHC’s investment management service, the Sipp has no initial transfer or contribution costs and an annual charge of £95.
Gary Rusby, head of business development at GHC Capital Markets, said: “We supply our investment management services almost exclusively through professional intermediaries, and we found that many of them were asking us for a simple investment only SIPP wrapper at little cost.”
Julian Penniston-Hill, chief executive officer of IM, said: “Whilst we have previously focused on the IFA space with our branded Sipp solutions we made the decision last year to work more closely with the investment management and stockbroking sectors.”
Designed to attract business to GHC’s investment management services from clients via their advisers, GHC will in some cases waive the annual management fee completely.