Selestia and Hornbuckle Mitchell will begin actively marketing their joint Sipp offering from August...
Selestia and Hornbuckle Mitchell will begin actively marketing their joint Sipp offering from August.
The groups are currently finalising the product's branding and charging structure and signing off tailored applications for the Sipp.
Mark Stubbs, managing director of Hornbuckle Mitchell, is confident the combination of his group's wrapper and Selestia's automation of process will attract more intermediaries into the Sipp market.
The product will automatically disinvest assets across the underlying portfolio to ensure a steady flow of cash into the client's Sipp cash account and the portfolio is rebalanced annually to a pre-determined asset allocation.
'Cash management is the main problem intermediaries face when running Sipp portfolios for clients. The intermediary needs to ensure sufficient investments are encashed to keep paying income,' Stubbs said.
'This Sipp will automatically disinvest, like those run by insurance companies, but will not leave intermediaries with the problem of finding their asset allocation out of kilter every year.'
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