Standard Life SIPP customers can now invest directly in gold bullion. Standard Life has teamed up with GoldMoney, one of the world's largest providers and holders of physical bullion for retail investors to offer the service across its retail and Group SIPP clients.
The move comes as part of Standard Life's drive to strengthen its SIPP proposition. Customers will be given online access to GoldMoney's website 24 hours a day, seven days a week to buy and sell gold bullion. Anything from 1gram-2,000 grams of gold can be sold in one day using the current spot rate to determine the price. Amounts in excess of this will be transacted the following working day. The bullion is held by GoldMoney in a secure vault in London at a cost of 0.15%pa. Standard Life's head of pension accumulation Alistair Hardie, said: "Advisers and clients have asked us to introdu...
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