Self-invested pension provider Curtis Banks is waiving its fee on in-specie commercial property transfers.
For the remainder of 2022, the firm said it is waiving the fee for transfers into Your Future Sipp, saving clients more than £800.
Curtis Banks head of sales Charles Dewey, said: “When Sipps were first announced back in 1989, it provided unprecedented investment flexibility. This flexibility remains today and in particular investing in commercial property.
“But the management of the property is very important, and advisers often find clients with providers that do not have the experience and expertise to undertake this work.”
To avoid the duplication of fees and ensure clients do not pay twice, Curtis Banks is also aligning the annual Sipp fee and the annual property management fee to match any client’s previous provider when transferring to the firm.
Dewey added: “As one of the largest property landlords in Europe, we have experts that can help advisers and their clients, providing high levels of service and administration excellence.
“This is great for those just investing in property, but many clients can feel that they are trapped with their current provider. But they are able to transfer from one Sipp provider to another via an in-specie transfer.
“To make this more attractive, we are waiving the fee on in-specie commercial property transfers into Your Future Sipp for the rest of the year.”
In July, Curtis Banks launched a suite of tools and calculators to help advisers with complex pension calculations relating to annual allowance, salary sacrifice and profit extraction.
The tools and calculators were developed with fintech firm Dunstan Thomas, a subsidiary of the Curtis Banks Group, and complement a range of tools launched earlier this year.
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