Wrap and pension provider James Hay has launched additional options on its low-cost self-invested personal pension (SIPP) aimed at mass market clients.
The iSIPP offers a basic range of funds for £180 per year, with additional ‘modules' charged at and extra £50 per year.
They include a whole of market option, allowing investments from outside the James Hay; a specialist investments option, including gold or unquoted shares; and a commercial property option.
Head of product development Chris Smeaton said it was "vital" for advisers to have solutions for mass-market clients.
"This product evolves and grows along with the changing needs and risk appetites of the investors, offering the adaptability to develop more sophisticated portfolios over time, as the needs of clients change," he said.
"We are excited about this new proposition and we have already seen a positive response from advisers across the UK."
The iSIPP is similar in structure to Aviva's pension proposition, launched last month.
The firm offers three levels: ‘Core' , with access to a small number of insured funds; ‘Choice,' that provide insured funds along with a full range of collectives; and ‘Flex', the option at SIPP level with full access to sophisticated assets including commercial property.
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