Seven Investment Management has become a pension provider with the launch of a Sipp on its platform.
The Sipp launched on Monday and allows access to a range of investments from bonds to structured products. No non-standard assets are permitted.
There is an annual fee of £100 for Sipp accounts below £75,000 and no charge applied above that.
It costs £50 for each drawdown or uncrystallised fund transfer into the Sipp from a defined contribution scheme.
Each cash transfer out of the Sipp, whether full or partial, costs £75 and the payment of death benefits costs £300.
There are additional fees payable to these including platform fees, fund management charges and discretionary service fees.
7IM platform head Verona Smith says: “Becoming a pension provider in our own right underscores our commitment to offering a joined up retirement planning proposition. We have put huge amounts of resource, technology and investment into this launch to develop a very competitive offering.”
She adds: “Many advisers have told us it was important for their client experience to have a cost effective and easy to access Sipp which is fully integrated with the 7IM platform.”