IPensions Group, formerly Momentum Pensions, has rolled out a self-invested personal pension (Sipp) platform designed for advisers and clients.
The ‘Platform Sipp’ will provide an online solution with greater “transparency, control and choice” when it comes to pension consolidation.
The solution has a range of 2,500 investment options, which include funds, investment trusts, ETFs and cash and deposit accounts.
IPensions said all the solutions have gone through due diligence and its range only accepts assets that comply with the Financial Conduct Authority’s (FCA) list of standard assets.
Clients will also have 24/7 access and be able to monitor their Sipp portfolio.
Charging structure
The platform’s service fee is 0.35% a year and there is an annual trust fee of £200 ($257, €218).
Customers, however, will not be charged any dealing or online dealing fees, and there is no Sipp set-up fee or transfer in fee, the firm added.
The Platform Sipp is available to UK and non-UK residents.
Sandra Robertson, IPension Group chief executive, 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.
“The market for pension consolidation will continue to expand as UK and non-UK residents look to bring all their pension schemes together and the Platform Sipp is ideally positioned to support advisers and their clients.”
