Platform One and MC Trustees launch Sipp

Platform One and MC Trustees launch Sipp

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.

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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.”