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Sipp gives people chance to make their own choices

Following Philip Rose&#39s comments about the launch of our Sipp (Money Marketing, May 16) I wish to clarify the position. Our Sipp will be a framework for investment. It is a wrapper, not an investment product – therefore not subject to the “better than best rules”.

Investment can be made to absolutely any collective or share available (within Sipp rules) – 4,000-plus holdings.

The Sipp will work on the same basis as our Vantage Isa which has more investment options than many other Isa supermarkets.

Recommending what may well be the cheapest Sipp available with significantly more investment options than most “select” Sipps and probably the best discounts on collectives, should not be a problem to justify, even if the better than best rules did apply.

Certainly this is more independent than just throwing clients into one of a number of insured funds with one provider, as many Sipp and drawdown advisers do.

If clients are grown up enough to make their own investment decisions when they want to, why not Sipp clients? If they want indepen-dent advice, it is available.

Danny Cox

Pensions development manager, Hargreaves Lansdown, Bristol

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