Self-invested pension provider MC Trustees and wrap service Platform One have launched a low cost platform Sipp.
It comes with no set-up fee, the first transfer is free and the basic annual fee is £100 plus VAT.
Clients introduced through advisers can see their holdings alongside their other investments using Platform One’s service.
Martin Cadman, managing director of MC Trustees, said this was the first time his business has offered a low cost platform Sipp which can be upgraded to a full Sipp, should a client want to make non-platform investments.
He said: “Also, should a client wish to move to a Qrops, we can offer this through our company in Malta and transfer the assets at no extra charge.”
Adviser View
Dennis Hall, chief executive of London-based Yellowtail Financial Planning, said: “It is all very well and good setting up a nice low cost product but if I can’t readily get information to do due diligence on the firm I’m not going to use them.
“Non standard investments could cause problems from a capital adequacy perspective, but it is a good product from a price perspective.”
ruth.gillbe@ft.com
