A J Bell is extending the options on its Sippcentre product and will be giving investors access to any investment manager as part of the changes to be introduced early next year.
The changes will include allowing commercial property into the Sipp, allowing the member to be appointed as the property manager, the ability to hold trustee investment plans and access to any investment manager.
Access to external bank accounts for those wishing to hold large cash balances will also be available.
The firm is also extending its platform functionality to improve the frequency of adviser remuneration payments and will be upgrading calculation tools.
These changes will be available from quarter one next year.
Last week, AJ Bell announced it was setting up a deal to offer its SippCentre customers access to the Cofunds platform.
As part of the link-up, Cofunds will bankroll SippCentre’s £120 Sipp establishment fee if clients hold at least £25,000 of their portfolio on the platform.
It will also subsidise SippCentre’s annual fee if a client has more than £125,000 with Cofunds, reducing it to £100 plus VAT. If the client holds more than £250,000 with Cofunds, the annual fee is reduced to nil.
A J Bell chief executive Andy Bell says: “We are delighted to announce these improvements. Our core charges will remain unchanged but for commercial reasons we won’t be announcing our charges for the extended investment functionality until early December.”