James Hay has launched the eSIPP Special Deposit Account for customers with large portfolios of various complex asset classes such as direct commercial property.
The product, which has a 6.4% fixed rate for 12 months, follows research showing 34% of eSIPP portfolios invest in cash. Figures show customers could lose up to £500m of interest by investing in cash accounts paying 2.8% into SIPPs each year. James Hay says: “We have identified that many clients are not using the comprehensive functionality offered by our Private Client SIPP, and would be better off in the James Hay Investment Centre, which is available through our eSIPP.” The Special Deposit Account offers advisers 0.1% of the value of the amount invested in the product between now and ...
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