PensionsJul 1 2014

Barnett Waddingham launches ‘Flexible Sipp’

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Barnett Waddingham has launched a new ‘Flexible Sipp’ which, the firm said, has been launched as a result of growing demand from financial advisers looking for a “simple, multi-purpose” Sipp product.

The new Sipp provides low-cost access to a range of discretionary fund managers. It also offers the benefits of a ‘Lite’ Sipp and can also be used as a full bespoke Sipp, with access to commercial property and other bespoke investment options.

The firm said: “As a single product with one set of terms, one fee schedule and no need for a new application, Flexible Sipp enables advisers to enjoy the best the best of both worlds, should a client want to make use of the greater investment flexibility available.”

Clients will have a single named point of contact, to ensure continuity of service for advisers, and offers maximum flexibility in planning for and drawing benefits in retirement.

Julia Bassett, chief executive of Barnett Waddingham Sipp, said: “Clients’ investment needs and circumstances can change over time, and advisers may find that their chosen Sipp no longer accommodates clients’ needs.

“Flexible Sipp is different because advisers do not have to weigh up the pros and cons of whether to select a more restrictive lower cost “Lite” Sipp or full bespoke Sipp with greater investment options, as the options are all available in one product.

“Flexible Sipp gives access to the best of both worlds – where clients can enjoy the benefits of a quality, cost-effective Sipp, with access to a range of popular DFMs, but also with the additional option to use their Sipp to access bespoke investment options should they wish to do so.”