View more on these topics

Xafinity launches low-cost Sipp with two investment accounts

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.”

Recommended

Antonio-Horta-Osorio-700x450.jpg
3

FOS upholds 74% of Lloyds complaints

Lloyds Banking Group has emerged once again as the most complained about financial services group to the Financial Ombudsman Service. Lloyds Bank, which was separated out from TSB in 2013, received the highest number of complaints against an individual business, with 24,245 complaints against it between 1 July and 31 December. A massive 74 per […]

FSCS-office-alt-500x320.jpg
11

Advisers criticise FSCS over ‘unfair’ Sipp stance

The Financial Services Compensation Scheme’s decision to levy advisers for investment failures as part of claims about Sipp advice has been branded “unfair” by the industry. In an update last week, the FSCS said it will start paying compensation for losses in the value of investments held in Sipps, as part of claims about advice […]

Technology & Fear

By Ali Unwin, Chief Technology Officer & Manager of the Neptune Global Technology Fund Fear has always been a key ingredient for technological experimentation and adoption, and today is no different. But when and where are these fears justified? asks Ali Unwin, Chief Technology Officer and Manager of the Neptune Global Technology Fund  Click here […]

Passport - thumbnail

Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. 2 accounts (one on a higher risk investment basis and one on a lower risk basis) is the equivalent of one larger account on a medium risk basis…or am i missing something.

Leave a comment