Product review: Talbot and Muir Sipp

Product review: Talbot and Muir Sipp

Talbot and Muir has revamped its Sipp portfolio. The Talbot and Muir Sipp will replace its existing product range, including the Elite Retirement and Simple Retirement Accounts. The aim is to be more flexible and, should a client’s circumstances change, they will not have to move to a different product or provider – instead having a product to adapt to suit them better.

A key feature is that the Sipp will have no set-up fees for online applications and clients will only pay for modules they use. The full range of retirement options are available including UFPLS, flexi-access drawdown or annuities. It also comes with an upgraded adviser portal and technical back-up. The Sipp comes with an annual administration fee starting from £195 for portfolios with the default bank account and single investment or portfolio, and prices increase depending on investments.

The idea for the tiered pricing system is so clients will only pay for what they use and make it clearer to understand.

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MM Comment:

This new Sipp is a great way to help clear up any confusion and difficulty when opening a Sipp. There are so many products on the market that it must be difficult for many clients to decide which is the best for them. To have merged two products into one easy-to-use Sipp will undoubtedly be easier for the end client to understand.

It also shows that research has been taken into development to give advisers what they need. Having the same investment wrapper means it will make advisers’ lives easier because it will suit different client needs.

Clients will no longer need to transfer between Sipps, so it will save time and money, and gets rid of the hassle of switching.

The tiered pricing structure keeps things simple to understand, while maintaining that flexibility so many advisers and their clients needs and desire.

Talbot and Muir suggest it is a “Sipp for life” and, from the outset, it looks as if this is so.