Online trading firm IG launches new Sipp product

Added 26th May 2016

Online trading company IG Group, famous for its spread betting services, has teamed up with leading pension provider James Hay to launch a self-invested personal pension (Sipp) product.

Online trading firm IG launches new Sipp product

The IG Sipp, a tax wrapper allowing savers to hold investments until they retire, will give investors access to thousands of shares and ETFs, said the firm.

The product is available to new investors and those transferring their existing Sipp or shareholdings within their Sipp to IG.

The company is also offering a one-off cash incentive of £75 ($109, €99) for assets between £10,000 and up to £49,999; £125 for those with assets of £50,000 to £99,999; and £250 for those transferring £100,000 or more of assets into an IG Sipp account.

“The addition of Sipps is an important step in the development of our offerings for the longer term investor.

“As the government moves further from pension provision, placing the responsibility to prepare for retirement firmly on the end investor, it is important that clients have access to the full range of account types to efficiently manage their long term investments,” said Ian Peacock, head of UK and Ireland at IG.

IG Sipps will be administered by James Hay, which boasts 56,000 clients and £19.4bn in assets under management, using their Modular iPlan pension product and charges an annual administration fee of £195. 

The IG Group is mainly known as a spread betting firm, which is how it started in 1974, but these days an increasing proportion of its revenue is generated by online trading of a variety of financial products, including derivatives, and it is now a global leader in electronic trading platforms.

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

Offshore clients

Will this SIPP allow non-UK clients access ?

Posted by: Peter, 26 May 2016

About Author

Monira Matin

Senior Reporter

Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.

Features

Why advisers need to ‘keep their mouths shut’

Why advisers need to ‘keep their mouths shut’Lock icon

Award-winning adviser and author Deena Katz outlines the importance of conversation, academic training and the rise of fee-based advice in the US.

Analysis

Profiles

Directories

Canada Life International Limited
Canada Life International...

Canada Life International Canada Life House,...

Tweets

Events

IA Multi-Asset Masterclass Dubai 2017
IA Multi-Asset Masterclass Dubai 2017

Wednesday 24 May
The Shangri-La Hotel, Dubai

IA Portfolio Bond & Tax Planning Forum Birmingham 2017
IA Portfolio Bond & Tax Planning Forum Birmingham 2017

Tuesday 20 June
The Hyatt Regency, Birmingham

 

IA International Fund Links Forum 2017
IA International Fund Links Forum 2017

Wednesday 14 September

The Langham, London

IA Best Practice Adviser Awards Europe 2017
IA Best Practice Adviser Awards Europe 2017

Thursday 28 September
The Waldorf Hilton, London

Sponsored Content

Investment Strategy

OTHER STORIES FROM LAST WORD...