Hornbuckle Mitchell has launched a web-based, interactive tool that provides clients and advisers with information they need to find out what investments are permitted, or not, into self-invested personal pensions.
Investment Selector, launched earlier this week, provides access to “clear and useful information” about Hornbuckle’s permissible investments and how each investment type is treated.
The category types listed are cash, securities, collectives, property, portfolio services, specialist and ‘non-permitted’, each with an explanation of Hornbuckle’s thinking around them.
For example, under non-permitted, it says investments may not be permitted where Hornbuckle feels that a class of investment “poses a particular risk of poor outcomes for a pension plan (or where we have observed poor outcomes in the past)”.
The non-permitted investments include: carbon credits; contracts for difference, intellectual property, limited liability partnerships, offshore bonds, overseas property, residential property, third-party loans and traded life policy investments.
This follows the launch of Hornbuckle’s new Signature property purchase service. Signature delivers a purchase and administration process for tenanted, single-lease retail, offices and light industrial properties, designed to support clients with standardised documentation to ensure a fast turnaround.
Speaking to FTAdviser, Patrick Van de Steen, managing director of proposition at Hornbuckle, said this is part of a series of changes.
He said: “We are aiming to make information that we have far more easy and transparent for consumers so they can access the information directly for themselves.
“We want to see better consumer outcomes. We want to give consumers the information they want to know about fees, investments, standard investments and non-standard investments which is easy to use and easy to understand.
“In April next year we will have a further four to five tools for client needs priced to be efficient and effective all for property, buy-to-let etc, as we want to address specific needs.”
