Winterthur Life's sister company Personal Pension Management Limited (PPML) is to position itself as...
Winterthur Life's sister company Personal Pension Management Limited (PPML) is to position itself as an IPA wrapper provider for retail funds, writes Mohamed Ali Bernat.
PPML, which specialises in Sipp administration, now plans to target unit trust groups that want to offer their funds through a pension saving vehicle alongside core products such as Isas.
PPML business development director Julian Palmer said he believed the high-net-worth market will be lucrative, with individuals not only contributing to a non-working spouse's or dependant's pensions, but also redirecting any overspill from their Isas to their IPAs.
Palmer said PPML already had a number of retail clients such as Edinburgh, Foreign & Colonial and Chase Fleming but investment houses had traditionally been reluctant to get involved in the pensions market because it was seen as too specialist.
Palmer said he believed investment houses would now join in the market.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected