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Platform picks new Sipp provider after merger

stethoscope-laptop-computer-medical-hospital-medicine-700.jpgPlatform Interactive Investor has picked Barnett Waddingham to run its Sipps after II’s merger with TD Direct caused the firm to break ties with AJ Bell.

Money Marketing revealed in June that AJ Bell and TD Direct would sever their agreement in light of II’s acquisition over “uncertainty” created by the union.

While the current deal will last until December, the new Sipp provider has now been chosen after a “significant review” of II’s services.

TD Direct customers already have access to the new Sipp, and it will come on stream for II clients in December.

The firms have promised to roll out new “new functionality“ over the coming months.

Interactive Investor chief executive Richard Wilson says: “We have made significant progress towards our ambition to become the retail platform of choice for engaged investors, with great products and great value. Barnett Waddingham will play an important part in this through the provision of its market-leading SIPP, and we look forward to our customers benefitting from this new service, giving them greater control over their financial futures.”

Last month, clients were given a deadline to decide whether they wanted the new TD Direct Sipp, or to stay with the AJ Bell Sipp and move to the Youinvest platform.

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