Intelligent Pensions launches drawdown initiative
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Retirement specialist Intelligent Pensions is launching a new scheme to help IFAs retain ongoing remuneration on their existing drawdown business and meet their obligations to clients.
‘The Drawdown Partnership’ will take over the ongoing advice while the existing IFA will act as ‘investment agent’. This involves online processing and tracking of all investment changes through to the eventual purchase of annuities or ‘3rd way’ products as part of drawdown exit strategies for clients.
The new proposition is designed to meet RDR and TCF requirements for separate investment adviser and agent roles with both governed by the Sipp terms and conditions.
The firm will design and manage individual client portfolios on a case by case basis and takes full compliance responsibility.
Client consultations are provided via a live internet link direct from the IFA’s office to one of the company’s ‘retirement analysts’ and include ongoing reviews.
Fund management charges will be capped at 1.75 per cent with 0.5 per cent payable to the introducing IFA and there will be a free conversion to a low cost SIPP plan subject to volumes.
Intelligent Pensions also plans to offer special arrangements for IFAs retiring from full time business.
Managing director Steve Patterson says: “This new initiative represents the best of all worlds, bringing together all the necessary elements to provide a sophisticated, robust and cost effective solution for clients in drawdown and to preserve the future income of IFAs”.
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