View more on these topics

Killik takes sipp to middle market

Stockbroker Killik & Co has established a self-invested personal pension plan (Sipp) that aims to make Sipps accessible to clients with smaller amounts to invest.

The Killik Sipp is a full Sipp that has a one-off set up charge of £100 and no annual management charge. Unlike some Sipps, this plan does not limit fund links to any specific fund manager or specify a minimum investment. However, the set up charges and dealing costs of £40 a day means it is not worthwhile for investments of less than £5,000.

Investors and their advisers can create their own investment portfolios to meet their individual requirements. This means the investor can choose from any investment that is allowed under Sipp rules and this includes investment trusts, Oeics, unit trusts, fixed interest securities, insurance company funds and commercial property.

Some Sipps are aimed at company executives and have high minimum investments in the £100,000 range. Other Sipps at the lower end of the market are offered on an execution only basis through the internet. The Killik Sipp fits into the gap between them and could attract interest from the self-employed.

AJ Bell&#39s Sipp is a similar Sipp that has no annual charge. Like the Killik Sipp, it does not specify a minimum investment, although investments need to be at least £5,000 to make it worthwhile. It does not limit investment choice, so its flexibility is as good as the Killik Sipp. However, it has a monthly charge of £35 and at £375, the set-up fee is higher than the Killik Sipp.


L&G tracks the pensions market

Legal & General is going for the older end of the market with the introduction of the global equity index fund.The product is a pension fund aimed at people who are looking for a core-satellite strategy for their pension fund. This is a strategy that has the bulk of its investment in tracker funds, with […]

Rural IFAs hit as foot and mouth shuts countryside

Rural IFAs fear the knock-on effect of the foot and mouth epidemic will be devastating for their local clients. Farmers, related occupations and those employed in the rural tourist industry are all likely to suffer from the effects of the epidemic, leading them to cut back on financial provision, including pensions and investments. Many rural […]

Broker Talkback

Do you think the Inland Revenue&#39s compulsory annuity purchase age of 75 is an infringement of human rights? “Yes. I think it can be very inconvenient. It forces you to take an annuity when you might not want to.” Andrew Gattward, Thameside“Probably. But I can&#39t see the Revenue giving all that tax up without a […]

ICMG offers capped sub prime mortgage

ICMG is offering a capped rate of 7.3 per cent for sub prime mortgages on loans up to 90 per cent loan to value.The product is available for lenders with adverse credit from two months arrears and £2,500 worth of county court judgments to an unlimited amount. ICMG chairman Ray Bohringer says: “This is an […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm