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Seven launches corporate Sipp aiming at SMEs

Seven Investment Manage-ment is aiming at the small and medium enterprise market with its corporate Sipp.

The sales team will promoting the Sipp as a strong tool for attracting and retaining senior executives, particularly as fewer firms now offer final-salary schemes.

The Sipp will offer access to the firm’s range of multi-manager portfolios, which are tailored to fit individual investment time horizons and attitudes to risk.

Pointon York Sipp Solu-tions will provide the tax wrapper and admin services.

Minimum investment is 150,000 and Sipp holders will be able to see their pension assets online. Companies can also send a single monthly statement to PYSS, confirming all their employee contributions rather than a separate statement for each individual employee in the Sipp.

Research by Suffolk Life shows growing IFA interest in the Sipp market. Seventy-five per cent of the 246 adv- isers polled say they expect to write more Sipp business this year. Half of the advisers expect to set up at least four commercial property Sipps this year.

Suffolk Life sales & marketing director John Moret says: “Back in 1999, I predicted there would be 500,000 Sipps by 2010. That now looks to be an underestimate.”

7IM chief executive Tom Sheridan says: “We see this is an opportunity to provide a significant improvement in facilities and services to executives of companies by providing greater flexibility and choice to their pensions.”

l Dutch multi-manager specialist Insinger de Beaufort is setting up a Sipp with the admin outsourced to Suffolk Life. The Sipp will provide whole of market access to collective investments, including the firm’s in-house range of funds of funds.

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