Dentons launches new Sipp product
Dentons Pension Management has launched a new open architecture Sipp product.
The Dentons Sipp, which is established under a trust deed and rules, allows advisers to view the assets held within a client’s plan online.
The product also allows advisers to get an overview of all contributions made to the plan and any transfers in. If the client is drawing pension benefits from their plan, the adviser can view details of the benefits drawn.
The establishment fee for the product is £350. There is also an annual fee of between £410 - £525. Cash transfers into the Sipp incur a charge of £50.
Dentons sales and marketing director David Fox says: “We believe the online functionality will provide advisers with an effective way to review their client’s Sipp plans, giving the most up to date information for a client at anytime.”
Dentons director of technical services Martin Tilley says the Sipp provider plans to double its market share from 1.5 per cent to 3 per cent over the next three years.
He says: “We are ambitious and we want to double our market share over the next three years. But we do not want to get too large, too quickly because we want to maintain good service standards for advisers.”