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Robo adviser launches digital pension

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Robo adviser Wealthsimple has launched a digital pension product – the first ever to offer access to investment advice from a human adviser, the company claims.

The self-invested personal pension (SIPP) comes with no minimum account size and fees of 0.7% for pots less than £100,000 and 0.5% for more than £100,000 plus fund fees.

The firm says customers have access to “unlimited investment advice from a human adviser”.

They can combine their pension pots in one place, alongside their other investment accounts.

People who want to transfer their pension from another provider can do so by giving their details and authorisation to Wealthsimple, which will also cover transfer fees for pots over £5,000.

Toby Triebel, CEO Europe of Wealthsimple, said: “Retirement is something people should look forward to, but traditionally UK pension providers haven’t made it easy for people to save for their future. Fees are high, there’s little flexibility and next to no support.

“We’re bringing the simple, human approach we’re known for to pensions and giving people access to the advice and guidance they need to build a smart retirement strategy for their future.”

The Canadian robo-adviser, which previously only offered investment accounts, has 100,000 customers globally and £2bn of savings under management.

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