Momentum Pensions has updated its online service to help advisers compare the cost of its self-invested personal pensions (Sipps).
The new website has been designed to try to ensure costs are completely transparent, while also giving advisers the option to connect quickly to Momentum’s technical support team via smart phones and tablets.
John McCreadie, head of UK sales for Momentum Pensions, said: “Advisers tell us that too many Sipp providers hide behind intricate charging models.”
He said this makes it difficult for compare products, adding: “Our new Sipp proposition, hosted on our new website, will make advisers’ jobs much more straightforward when discussing Sipp options with their clients.”
The sales boss said the new web development is the next stage in the company’s “ambitious plan” to increase its Sipp market share.
This comes as research from Momentum, which surveyed 107 advisers, showed that nearly two-thirds of advisers expect Sipp enquiries to increase over the course of this year.
Momentum has also developed its Sipp range as it looks to adapt to clients’ changing needs.
The new range includes:
Core Sipp | Standard Sipp with a panel of quality investment providers |
Property Sipp | Designed for those who want commercial property investment with a clear fee structure |
Advanced Sipp | Open architecture SIPP for those with more sophisticated investment needs. |
International Sipp | Specifically designed for the needs of non-UK residents. |
Blair Cann, certified financial planner at Hertfordshire-based M Thurlow & Co, said it can be tricky trying to compare charges because most providers have a number of different charges, depending on what is in the Sipp.
"If the website solves that problem it will be helpful," he said.
"As far as technical help is concerned, I am not sure what precise areas this is going to cover but if an adviser needs technical help then perhaps they should not be selling Sipps at all," Mr Cann said, adding the internet can provide answers to most questions.
katherine.denham@ft.com
