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Selestia links with IFAs for Sipp and drawdown

Fund supermarket Selestia is moving into the Sipp and drawdown markets in a series of joint initiatives with pension specialist IFAs including Hornbuckle Mitchell.

Selestia will provide the portfolio construction and asset allocation for clients buying a Sipp or drawdown wrapper from Hornbuckle, which will offer access to the service through the supermarket&#39s own brand.

Investment tools are usually white labelled by IFAs but both companies believe the use of separate brands is more transparent for clients. Selestia is currently in talks with a number of other IFAs and hopes to clinch a similar agreement with Moorgate House, which specialises in advising clients of accountancy and legal practices, over the coming weeks.

It intends to strike deals with around five IFAs in total.

Selestia director Bill Vasilieff says: “There is a crying need for asset allocation and portfolio construction in what are essentially long-term savings plans. We believe initiatives like these are the future of the Sipp market as they reflect the crucial importance of the investment solution as well as the pension wrapper.”

Hornbuckle Mitchell managing director Mark Stubbs says: “Selestia offers the best range of investments and we offer a very transparent Sipp so this arrangement is a perfect fit for advisers who want to properly invest their clients&#39 pension money.”

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