Self-invested personal pension
Lump sum £50,
Scottish Mortgage Investment Trust, Monks Investment Trust, Scottish American Investment Company, Edinburgh Worldwide Investment Trust, Baillie Gifford Japan Trust, Baillie Gifford Shin Nippon, Pacific Horizon Investment Trust, Mid Wynd Investment Trusts, Baillie Gifford Bond Pension Fund, Baillie Gifford Unit Linked Pension Fund, Baillie Gifford Long Gilt Pension Fund, Baillie Gifford Investment Grade Long Bond Pension Fund and other permitted externally managed Oeics, unit trusts, UK listed securities and shares
Weekly purchase £7.50, daily purchase £15, weekly sale £15, daily sale £30, additional costs for underlying investments, income withdrawal and pension transfers
Tel: 0800 0275580
Baillie Gifford's select pension is a self-invested personal pension that allows investors to choose from a range of Baillie Gifford investment trusts and bond funds, plus 1,500 permitted externally managed Oeics, unit trusts, UK listed securities and shares.
Smith & Williamson senior consultant Colin Mann thinks this product is simple, competitively charged and should meet the needs of a large number of clients. He says: “The plan stands out from the competition because there is no set-up charge or annual fee. It has a comprehensive range of funds which includes some property funds. This product will appeal to a number of IFAs as it will enable them to charge a fee for any advice given at the outset and on an ongoing basis.”
Mann feels the fund range and allowable investments are quite comprehensive and feels the product would appeal to clients who want predominantly equity-based investments within the flexibility of the Sipp wrapper.
When asked to consider the drawbacks of the Sipp Mann feels there is nothing to dislike about this product as long as its limitations are recognised. He explains: “Investors would not be able to purchase property or make loans, but this may not be a disadvantage.”
Mann feels the competition will come not only from the mainstream Sipp providers but also from single-charged personal pension providers that have wide external fund links, including Standard Life, Scottish Life, Scottish Widows and Legal & General.
Suitability to market: Good