Octopus peer-to-peer (P2P) solution made accessible within SIPPs
18 October 2019
Octopus Investments’ peer-to-peer (P2P) investment platform, Octopus Choice, is now accessible within a self-invested personal pension (SIPP) wrapper.
Specialist pension providers Hartley Pensions (a Wilton Group Company) and Morgan Lloyd are the first providers to offer access to Octopus Choice within the tax efficient pension wrapper.
Octopus said that while P2P is considered a ‘non-standard’ investment for SIPPs (i.e. not covered by the FSCS, with capital and liquidity risk), it hopes to grow the number of financial advisers offering P2P as part of the financial planning process.
Octopus Choice is a property backed P2P lending platform launched in 2016 and developed by Octopus Investments with currently over 1500 advisers signed to it and over £250 million under management.
Octopus said that to date the platform has generated nearly £15 million of interest for its investors, “who have also withdrawn more than £134m successfully”.
Charlie Taylor, head of Octopus Choice, said: “We’re delighted to partner with Morgan Lloyd and Hartley Pensions and give their customers access to Octopus Choice within a SIPP. It’s something many advisers and their clients have been asking for, so it’s great to be able to give them this option.
“Property backed peer-to-peer lending is an alternative asset class that aims to offer lower volatility than equity markets and targets regular income. Octopus Choice, for example, aims for the equivalent of 4% per annum. These qualities can make it an attractive option for certain people, comfortable with the risks of the asset class, who want to diversify their SIPP portfolio.”
Octopus has been presenting on its P2P platform at selected Technical Insight Seminars around the country. The next presentation will be on 23 October at the Crowne Plaza Reading. For more details and to register for the seminar see Reading Technical Insight Seminars – 7 speaker line up confirmed.
Other speakers at the event include:
Rory Percival, Rory Percival Training & Consulting
Topic: Capacity for Loss
Paul Squirrell, FundsNetwork
Topic: State Pension
Brian Radbone, Transact
Topic: Pensions regulation and tax
Stephen McPhillips, Dentons
Topic: SIPP and SSAS exit planning opportunities and due diligence
Origo is to launch Unipass Letter of Authority (ULoA) at the end of November, a service aimed at simplifying...
Professional Paraplanner’s publisher, Research in Finance (RiF), is a leading research company in the financial services sector. On occasion our readers...
While the aggregated costs and legacy trail commission regime remains far from perfect, some clarity can be gleaned, says...