DP Pensions launches single investment SIPP
24 September 2018
SIPP and SSAS provider DP Pensions Ltd has launched a new single investment SIPP in response to growing interest from advisers.
The Premier Trust Single Investment SIPP will complement the firm’s existing product range and offers a low-cost option for advisers and their clients, DP Pensions said.
The SIPP will hold the plan bank account and one investment account with a panel investment manager, with DP Pensions having over 40 managers on the panel.
David Phillips, managing director, DP Pensions, said: “We have seen unprecedented change in the pensions industry in recent years and advisers are looking to partner with firms that are developing their product ranges, are financial strong and committed to the market for the longer term.”
Elaine Turtle, director, DP Pensions (pictured), added: “Advisers are under increasing pressure to minimise the time they spend on administration and enable them to spend more time advising clients. They are looking for products that are simple to set up and are cost effective for clients.”
The SIPP will cost £195 a year, with a wide range of discretionary fund managers, platforms and stockbrokers available.
David Taplin, chairman of Argentis Financial Management and head of wealth at Arthur J Gallacher, said with clients looking to consolidate smaller pension pots but retain flexibility, the new SIPP will work well.
“There is a very wide range of DFM partners and these have been carefully selected based on their own due diligence, and there are low charges as you might expect from this type of product, but also if a client decides they want more flexibility to perhaps invest in commercial property then the SIPP can easily move to the DP Pensions Premier Trust SIPP product to accommodate this, making it a very useful financial planning tool,” he added.
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