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Hornbuckle launches first sole trustee Sipp product

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.”


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. welcome2the21stcentury 6th March 2013 at 3:47 pm

    Didn’t the rest of the industry launch this at A day?, I guess Hornbuckles run on a different service timescale and level to the rest of us, but we knew that anyway…..
    Does “transactional cost on top” include the hours of chasing the admin and the ifa been able to charge hornbuckles?
    Here is a tip :- Please concentrate on providing a good service before you launch me2 products into a crowded marketplace.

  2. I would have thought that in the current FSA climate that a full bespoke SIPP provider would want the member to be co-trustee.

    Co-trusteeship encourages active interest and instills personal responsibility in the member for their SIPP

    Not all SIPP providers went down the sole route.

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