James Hay has agreed a strategic partnership with Towry that will see approximately 4000 Sipp clients join its James Hay Modular iPlan.
According to James Hay, the platform for retirement wealth planning, it will also become a key partner in the provision of retirement solutions to Towry’s clients.
Alastair Conway, chief executive of James Hay, said: “The direction we have taken in evolving and growing our business matches perfectly the new and dynamic retirement wealth planning opportunities - that shows in our flows and in the calibre of our strategic partners.”
He said that a dedicated James Hay transition team will manage the transfer, with completion due in the second half of this year.
Once transferred to the Modular iPlan, Towry’s advisers will benefit from the platform’s sophisticated online management portal, online trading capability, performance reporting and a range of interactive drawdown tools.
As part of the platform’s ongoing drive to automate processes, valuations and annual reviews will be provided digitally with capability for all instructions to be done online.
John Porteous, head of client proposition for national advisory firm Towry, said: “We are always looking to deliver the very best service to our clients.
“With such exciting changes in the retirement space, this new arrangement will allow us to focus on our expert retirement planning advice and management of client investments.”
