7IM enters SIPP marketplace
Seven Investment Management (7IM) has become a pension provider for the first time, with the launch of its own Self Invested Personal Pension (SIPP).
The 7IM SIPP offers a choice of a wide range of investments including: Bonds, cash, cash funds, exchange traded products (ETPs), government and local authority bonds and other fixed interest stocks.
The retirement product also allows investment notes (structured products), managed pension funds, permanent interest bearing shares (PIBs), eal estate investment trusts (REITs), equities including Investment Trusts and closed ended investment companies and units in regulated collective investment schemes, the company said in a statement announcing the launch.
Verona Smith, head of platform, Seven Investment Management (7IM) said: “We have put huge amounts of resource, technology and investment into this launch to develop a very competitive offering. Many advisers have told us that it was important for their client experience to have a cost effective and easy to access SIPP which is fully integrated with the 7IM Platform.
“We also understand that from a suitability point of view it is important that we keep our open architecture approach and continue to make available other SIPPs via the 7IM platform.”
Smith added that the launch of the 7IM SIPP was a natural part of the company’s evolution as the 7IM platform has the “technology and flexibility” to deliver a strong retirement solution for investors.
7IM said that it is able to pre fund tax relief on pension contributions so that more money is being put to work earlier than can sometimes be the case.
Annual fees, where payable, are charged annually in advance, all other fees are charged at the time of the transaction. Platform fees, fund management charges and discretionary service fees are payable in addition.