SIPPFeb 20 2023

Curtis Banks cuts fees for new Sipp clients

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Curtis Banks cuts fees for new Sipp clients
A collection of British five pound banknotes sit in this arranged photograph (Miles Willis/Bloomberg)
ByJane Matthews

Curtis Banks has slashed its fees for new clients, with savings of more than £850 to be made on self-invested personal pension transfers. 

The Sipp provider today (February 20) announced that it is waiving the cash transfer in fee and in specie transfer fee on the creation of all new Sipps.

The provider also announced that it has extended its offer on in specie commercial property transfers and will continue to waive this fee until June of this year.

The move follows a boost in adviser demand, according to Curtis Banks, who said it has seen a 141 per cent increase in enquiries. 

Head of sales at the Sipp provider, Charles Dewey, said the move will “not only ensure that clients continue to secure greater returns on their investments but also allow those clients who feel that they are trapped with their current provider the opportunity to transfer over”.

To avoid duplication of fees, Curtis Banks will also continue to match any client’s previous provider when transferring their Sipp or in specie commercial property.

“Sipps exist to provide unprecedented investment flexibility especially for those looking to invest in commercial property,” Dewey said. 

He 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.”

Earlier this year, Nucleus confirmed it will buy Sipp provider Curtis Banks in a £242mn cash deal, taking its assets under administration to £80bn.