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Charles Stanley sets Sipp threshold at 25,000

Stockbroker and wealth manager Charles Stanley has set up a low-cost, low-entry threshold Sipp to attract pension savers with modest funds.

The Alpha Sipp has a minimum initial investment of25,000 and aims to be straightforward and flexible in terms of the investment options available and ease with which it can be set up. Investors can draw an income without having to buy an annuity. Head of private client financial planning Robert Gofton-Salmond says: “It will be particularly attractive to people who have been disappointed with bigger insurance companies.”

Trinity Financial Planning partner Christopher Hind says: “The Alpha Sipp looks very competitive and could attract clients disillusioned with the way their managed funds have been performing. I would add a word of caution, though, as the cheapest products are not necessarily the best value for money.”

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