IFA firm Chartwell is set to launch its own SIPPs this autumn to add to its ‘investor centre', an online user-led wrap service.
Chartwell will provide its own SIPPs from October or November, Craig Wetton, investment director at Chartwell, tells IFAonline.
The company previously sold SIPPs from providers including James Hay but for the first time will offer its own products. Cofunds, an independent investment platform, will run the SIPPs.
Clients pay for investor centre in the form of trail commission. There is no joining fee and 50% of the remuneration is paid back as a rebate. The remainder pays for the service.
Investor centre users choose their own asset allocations through an online platform that holds their fund information.
Chartwell also posts hardcopies of clients’ transaction histories, valuations and consolidated tax statements.
Many of the platforms’ users are at retirement age but Wetton says investor centre attracts a cross-section of clients.
He says: “Some investor centre users are directors of FTSE 100 companies, right through to people who are retiring in their 80s who thrive on managing portfolios.
“Some clients are still planning for retirement rather than one in retirement. What they all have in common is they all make their own financial decisions.”
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