Hornbuckle Mitchell has launched its first sole trustee Sipp product in response to demand from advisers for greater simplicity.
The Sipp operator previously only offered a co-trustee product, where both the investor and Hornbuckle are registered as trustees of the pension scheme.
It has launched the Hornbuckle Mitchell Sipp, a product where Hornbuckle is the only registered trustee, in an effort to cater for advisers who require a simpler solution.
The Sipp costs £295 to set up and £490 a year to use. Any transactional costs are on top of this.
Hornbuckle Mitchell sales and marketing director Mary Stewart says: “We have increasingly had feedback from advisers who want a simpler solution.
“It is much easier to set the scheme up because the application form is only nine pages, compared to 24 pages for the co-trustee product.
“We also do not have to have a wet signature for a lot of forms, so instead we can take email instructions from the client.”