Moneybox mulls Sipp launch

iPhone-Mobile-Tech-Technology-700.jpgMobile savings app Moneybox is eyeing the launch of a Sipp, joining other digital wealth managers entering the retirement arena, Money Marketing understands.

Moneybox allows customers to allocate small amounts of savings towards investment plans by rounding up card payments to the nearest pound.

In April 2016, Moneybox was among the small number of direct-to-consumer services to launch a Lifetime Isa, joining Hargreaves Lansdown, AJ Bell, The Share Centre and Nutmeg. Currently, Moneybox also offers a GIA and a stocks and shares Isa.

It is understood Moneybox would be able to monitor and alert whether customers risk to breach any contribution limits for their Sipp account. Moneybox declined to provide any further details on a potential Sipp launch.

In March, Italian firm Moneyfarm became one of the first robo-advisers to launch a pension wrapper.

Elsewhere, BlackRock-backed robo-advice firm Scalable Capital said it was preparing to launch a white-labelled Sipp offering in July. Fund giant Vanguard also said it has plans to launch a Sipp in 2018 for its new direct to consumer platform.

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