Momentum Wealth International has added two SIPP providers, Forthplus Pensions and Momentum Pensions, to its international platform offering.
The partnership will see customised versions of the Forthplus SIPP and the Momentum International SIPP made available through the platform’s general investment account, the Personal Portfolio, and the capital redemption bond version of its International Portfolio Bond.
This provides advisers and their clients with access to Momentum Wealth International platform within their SIPP. This includes a full range of mutual funds, including the Select guided architecture range, ETFs and model portfolios that comply with the FCA’s SIPP investment restrictions, the company said in a statement announcing the deal.
Despite sharing the Momentum name, Momentum Pensions and Momentum Wealth International are completely separate and independent companies with no common ownership.
FCA regulated SIPP providers
Momentum Pensions specialises in British expatriates and international clients and administers over £1.25bn of assets. It is regulated and approved to provide pensions solutions in the UK, Malta, Gibraltar and the Isle of Man.
Forthplus Pensions is an Edinburgh based, FCA regulated SIPP provider. It also has an office in Dubai to service advisers in the Middle East.
Bryan Low, pictured left, marketing director of Provisca (which is responsible for distribution of the Momentum Wealth International platform to international advisers), said that both Forthplus Pensions and Momentum Pensions were selected for their “deep experience” of dealing with expatriate customers from around the world and their shared focus on new technologies.
Momentum Wealth International is part of investment and insurance giant MMI Holdings, which is the third largest listed insurer on the Johannesburg Stock Exchange. MMI Holdings has assets under management of US$48bn, according to the company’s latest statistics.