Friends expands access to group SIPP

It has cut the minimum fund value for entry to its group SIPP from £100,000 to £50,000. Dan Hawkins, SIPP product manager at Friends, says the move is part of his firm's attempts to widen access to wealth management tools in the corporate space. Friends Provident current offer a group SIPP option to pension fund members who reach its eligibility criteria. By halving the minimum fund value, Friends says an extra 50,000 of its 700,000 pension fund members will now have access to SIPP functionality. Hawkins says: "We've designed the group SIPP to sit alongside our GPP offering, mea...