SG Hambros Bank, part of SG Private Banking, has launched a SIPP with private equity investment opportunities.
The bespoke SIPP also allows customers to invest in structured products, which is another area of expertise at the group. The choice of mandates includes a full discretionary service or advisory portfolios where the client has the final decision on each investment.
SG Hambros says it has launched the SIPP product in response to falling service standards at external SIPP providers and their reluctance to accept offshore managers.
The group says its customers previously encountered problems with other SIPP providers including not having access to SG Hambros investments, using external bank accounts and high transaction charges for securities transactions.
SG Hambros says: “Most of the problems SG Hambros has encountered have arisen since all SIPPs became regulated in April 2007. It is not the regulation as such which caused any problems, but in some cases the consolidation that has followed its introduction.”
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