GHC Capital Markets launches low-cost SIPP with Intelligent Money
The firm said it has launched the wrapper after demand from IFAs.
It has no initial, transfer or contribution charges, with an annual charge of £95, plus VAT. Some clients will be exempt from the annual charge, depending on certain investment criteria.
It has been designed to enable IFAs to offer clients access to GHC’s investment management services.
Gary Rusby, head of business development at GHC Capital Markets, said: “We supply our investment management services almost exclusively through professional intermediaries, and we found that many of them were asking us for a simple investment only SIPP wrapper at little cost.
“Many providers were not interested in these types of simple/skinny SIPPs, but Intelligent Money were geared up for exactly what our IFA clients were asking for. They also only provide their services through intermediaries which fits in with our way of doing business.”
Intelligent Money chief executive Julian Penniston-Hill added: “While we have previously focused on the IFA space with our branded SIPP solutions we made the decision last year to work more closely with the investment management and stockbroking sectors.”
Intelligent Money currently provides branded SIPP and pension products in the IFA sector to firms such as True Potential, Amber (Paradigm), Fusion and Towergate.
The firm also selected to take over the running of the BNP Paribas book of SIPP business earlier this year after they decided to exit the market.