WealthKernel has rolled out a fully digital self-invested personal pension (Sipp).
The offering will be integrated over API (application programme interface) and enable the firm’s clients to offer a “regulated, digital-first proposition”, it said.
Paper-based pension transfers will be available when needed.
The move aims to attract younger clients, who WealthKernal describe as “digitally native consumers” who engage more actively with their finances and demand greater accessibility to financial products.
More control
Karan Shanmugarajah, chief executive of WealthKernel, said: “Sipps are an incredibly valuable savings vehicle that allow people to have more say over how their pensions are invested, and we’re thrilled to be helping bring them to a wider audience.
“Thanks to seamless integration with our APIs, fintechs large and small will be able to support their customers with greater flexibility for their retirement savings.”
One of the pension-tech companies that is already integrated WealthKernel’s model is Penny, a business that uses automation technology to help users find and transfer all their pension savings into one place.
Josh Stott, chief executive of Penny, added: “This partnership with WealthKernel is an exciting step towards serving our customers even better by giving them more control over their pensions.
“When we founded Penny, we set out to make finding, viewing and managing pensions easier and we’re thrilled that WealthKernel is powering us further along that journey with its simple, affordable technology.
“We hope this unlocks a new mindset for our customers, who will now be able to view all of their old workplace pensions in one Sipp product, empowering them to make pension investment decisions that work for them and their ideals.”
