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Winterthur bringing Sipp admin in house

Winterthur is to bring Sipp administration in house as it consolidates IFA services under the new Axa & Winterthur Wealth Management banner.

The company’s self-invested personal pension is currently outsourced to Capita but it believes that bringing admin in house will give it greater control over service standards.

The Winterthur Sipp will sit alongside Axa’s Sipp which is already administered in house. The Axa & Winterthur Wealth Management team will market both products to advisers alongside the Elevate wrap platform when it launches to the whole of market at the end of this year.

Axa & Winterthur Wealth Management managing director David Thompson says: “Given the fact that high-quality service is a prerequisite in this market, we believe this decision will support the demands of our customers and also complements the strategic changes we are making to the wealth management business with the formation of the new division. One of the reasons to bring it in house is to have more control over the end proposition.”

Thompson says Axa has been happy with Capita’s service and will continue to use the firm for other outsourced services throughout the group.

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