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' 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.”