View more on these topics

Standard Is set for launch of group Sipp

Standard Life is set to launch a group Sipp platform at the end of the summer, building on its individual offering.

The firm has nailed its col-ours firmly to the Sipp mast for the post-A-Day world and anticipates that the group market will take off in the same way as the individual market.

Hargreaves Lansdown is also looking to offer a group Sipp later in the year.

Investors in the Standard group Sipp will have access to the underlying internal and external funds on its Sigma platform. Although not yet final-ised, the charging structure is expected to be similar to the structure of the individual product, with low flat-rate charges and a transparent structure.

Hargreaves Lansdown head of pension research Tom McPhail says he expects the group Sipp market to take off after A-Day due to the inc-reased investment freedom and growing dissatisfaction with insurance companies’ packaged products.

He says: “Hargreaves is looking at a group Sipp. The market has been small but it could expand quite rapidly. Standard launching into the group Sipp market makes commercial sense but it depends on what the terms are.”

Standard Life senior technical manager John Lawson says: “Group Sipps are something that we are seriously looking at.”

Recommended

On a level playing field

IFAs came racing out with their hockey sticks following John Shackle-ton’s presentation at the FSA conference last week. The Worldwide Financial Planning chief made no secret of his desire for the industry to move towards a “level-playing field” – about 40 times. If next year’s MM awards add another category (to Jack Dee’s delight) for […]

Commentary – Success story

Yet another year has passed and, inevitably, depolarisation dominates the current agenda. The banks and product providers shuffle and every week a new player announces a multi-tie or other proposition. The increasing complexity of the regulations and the pace of change are adding to the stress levels of all of us, pushing up PI and ICS costs and so on.

1

Lifetime Isa – how it works

According to George Osborne “people like Isas – because they’re simple”. Fiona Tait is not convinced… Contributions & bonuses What he said: “From April 2017, anyone under the age of 40 will be able to open a Lifetime Isa and save up to £4,000 each year. And for every £4 you save, the Government will […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment