iPensions has launched ‘The Platform Sipp’ in a bid to help advisers consolidate their clients’ pensions into a Sipp.
The group, which recently rebranded from Momentum Pensions, announced today (September 22) it has launched an online managed self-invested personal pension which offers more than 2,500 investment options.
The Platform Sipp provides round the clock online access and monitoring and only accepts assets complying with the City watchdog’s list of standard assets, including funds, trusts and ETFs as well as cash and deposit accounts.
The product is the first in a series of technology-led pensions solutions designed to provide advisers and their clients with “transparency, control and choice” and the first new offering since Sandra Robertson took the helm as group CEO in May.
Ms Robertson said: “The launch of The Platform Sipp provides a new highly competitive option for advisers which gives control and flexibility while offering 24/7 access to manage and monitor portfolios.
“It’s a strong proposition which we are delighted to bring to market as the first launch under iPensions Group and underlines our ambition and focus on growth in the market.”
Ms Robertson said the market for pension consolidation would continue to expand as consumers looked to bring all their pension schemes together, adding the Platform Sipp was “ideally positioned” to support advisers and their clients in this remit.
Clients will pay an online trust fee of £200 and a 0.35 per cent platform service fee. There are no dealing fees for online direct dealing and no Sipp set up fee or transfer in fee.
The Sipp is available to UK and non-UK residents.
iPensions Group rebranded from Momentum Pensions in July as it looked to focus on innovation in the Sipp market following “significant investment” in technology.
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