FundsNetwork is offering set-up and the first years administration for free in its new Sipp which is available for client quotes today.
Investors who transfer a minimum of 60,000 and opt solely for mutual funds, insured funds or the Sipp bank account within their Sipp will not pay the initial 100 fee to establish an account, nor the annual 250 administration charge.
The Sipp is run by Standard Life and includes more than 1000 funds, including mutual funds from 53 groups. It will be available for investments in December. The launch follows that of the platforms investment bond last week.
FundsNetwork head David Dalton-Brown says: Our Sipp offers over 1,000 individual fund options. There are flexible adviser fee arrangements, flexible commission options, and flexible withdrawal facilities.