Barnett Waddingham courts IFAs with SIPP discount

The provider, which has more than 1,500 clients, is also planning to launch a low-cost SIPP option this year, following moves by AJ Bell and James Hay Partnership into the cheaper SIPP space. The establishment fee for BW's SIPP is £350 and the annual fee is £555 plus VAT for IFA clients. Usually, the establishment fee is £486, whilst the annual administration costs £542. Julia Bassett, head of SIPP business at BW, said: "SIPP fees are generally increasing and so we are bucking the trend by reducing our fees. "By including the cost of transfers from previous arrangements and pens...