HSBC to target SMEs with Standard sipp

The high street bank, which as part of HSBC holdings is one of the world’s largest banking and financial services organisation, does currently offer sipps, but only through a specialist team. HSBC's small self-administered scheme (ssas)/sipp practice caters for high-net-worth clients with a minimum initial fund made up of contributions or transfers of £300,000, and offers a fee-based pension consultancy service with “appropriate discretionary” advisory fund management expertise where necessary. However, under the new deal with Standard Life, HSBC says the new sipp will be aimed at medium...