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Online Sipp cuts out data re-entry

Former Winterthur chief executive Clifton Melvin has set up an online Sipp administrator offering a white-labelled service to IFAs and providers.

Gaudi is claimed to be the first online Sipp to eliminate manual data re-entry. It will allow firms to offer plain vanilla Sipps and more complex structures. It will offer all permitted Sipp asset classes and funds and is providing an online Sipp for IFA firm Informed Choice.

Melvin says: “The Sipp is a great product but there has to be a better way of running it than exists in the market. There are quite a few Sipp providers who are going ahead with the typical IFA broker fieldforces but not doing it on a business-to-business basis, as we will be.”

Finance and Technology Research Centre director Ian McKenna says: “There would need to be detailed integration between the adviser’s chosen client management system and Gaudi so that any information is being exchanged in an entirely secure manner. It will be important for advisers to satisfy themselves on such issues.”

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By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.

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