The Sipp will be administered by Liberty and is the latest investment wrapper to be added to the Fundment offering.
IFAs using the system will be able to advise clients on a Sipp “in less than 10 minutes,” the firm claims.
IFA fight back
Fundment provides a low-cost discretionary investment platform for advisers which it claims will allow them to fight back against robo-advisers.
The platform described itself as a “robo killer” as its low-cost automated investment technology enables IFAs to fight back against the robo-advisers and make real adviser expertise affordable for hundreds of thousands more clients.
“Clients will be able to hold a wide range of asset classes in the tax-efficient Sipp wrapper, while enjoying a fully managed service from their adviser,” Fundment explained in a statement.
Ola Abdul, the firm’s founder and chief executive, said: “By adding a Sipp to our platform we’ve given advisers another powerful tool that will enable them to provide more people with high-quality retirement advice, backed by the power of technology.”
Fees
The new Sipp has a sliding cost scale with annual charges of:
- 0.35% for funds under £50,000 ($67,732, €56,683);
- 0.25% for funds up to £150,000; and,
- 0.2% for funds over £150,001.
The price is all-inclusive, the firm said.
“Fundment are a natural partner for Liberty Sipp, as they share our drive to offer a simple, transparent and efficient product that drives down costs and empowers advisers,” Liberty Sipp managing director John Fox said.
Robo-for-adviser
The white-label service, which received authorisation from the Financial Conduct Authority in April 2016 before going live in February, already supports Isas and junior Isas.
The company claims that it allows advisers to assess client needs and risk profile as well as “seamlessly invest” and manage their assets through its in-built discretionary fund manager.
Fundment also claims to offer “the joined-up, low-cost power of a robo-adviser” in the hands of IFAs, allowing advisers to “work more efficiently and dramatically improve their margins”, even with small portfolios.
