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Hay aims for a simpler policy

James Hay has reintroduced its Select Sipp to the market with a new simplified application process.

The Select Sipp has been off the market for seven months and is being sold as a low-cost alternative to the traditional Sipp charging structure.

It has a 0.75 per cent annual charge that covers all the fees typically associated with a Sipp with the exception of commercial property. Clients get access to more than 150 institutional and retail funds provided by a range of UK fund managers.

Advisers with access to James Hay Online will be able to make trades into funds within the Select Sipp via a secure messaging system.

The Sipp application form has been simplified and the application process now includes a step-by-step guide.

Advisers can then track and manage their clients&#39 Sipps online.

The Select Sipp is available with a minimum investment per fund of £1,000 through IFAs and is designed to give control over the management of investments and provide flexibility to suit lifestyle needs.

James Hay is backing up the relaunch with a nationwide marketing campaign across advertising, direct mail, and support for advisers through the Sipp relationship team at James Hay.

James Hay Sipp division managing director Jan Regnart says: “We want to break down the complexities of a Sipp, and as part of this, the Select Sipp carries a simple transparent charging structure.”

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