Xafinity has launched a version of its SimplySipp with two investment accounts, which allows clients to pursue accumulation and decumulation strategies in the same wrapper.
The Sipp and SSAS administrator says previously a client wishing to hold two investment accounts would have to use its full Sipp, which carries higher charges.
Its SimplySipp offering continues to carry an annual fee of £250 plus VAT for one investment account, rising to £299 plus VAT for two accounts.
Xafinity head of Sipp and SSAS business development Jeff Steedman says advisers using two investment accounts would generally put one with a discretionary fund manager or stockbroker to target high growth, and use the other as a lower risk fund to facilitate drawdown.
He says: “Advisers have told us they want a low-cost option with more flexibility.
“As a result of the pension reforms coming into force in April, lots of our clients will want to use flexible access drawdown for a proportion of their fund, and keep a proportion invested in a high growth account.”