Wealth management platform Ardan International has teamed up with provider Hartley Pensions to launch a self-invested personal pension.
The Ardan Sipp can be set up online and is open to both UK and non-UK residents, with the firm claiming it will be “perfect” for clients who want to carry out a pension transfer or begin funding their retirement.
However, the investment component of the Ardan Sipp is restricted to the Ardan platform only.
In addition, residential and commercial property cannot be held within the Sipp.
Ardan will accept transfers from HM Revenue & Customs recognised schemes as well as defined benefit schemes.
But it noted that a financial adviser must be appointed to manage the investments within the Sipp as neither Ardan nor Hartley Pensions are investment advisers or managers, nor do they give any financial or tax advice.
The firm claimed the Sipp is more cost effective than comparable pension schemes.
Excluding VAT, setup fees are £250, annual uncrystallised admin fees are set at £300 and annual drawdown admin fees are £400.
There is also a fee for transfers out, which is set at £250 plus VAT, plus other additional charges for death, divorce and uncrystallised funds pension lump sum.
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