Manx stockbroker launches free-to-enter SIPP

The SIPP, a white label product from Pointon York, will also have no set-up fee, no contribution fee, no transfer in fees, and no transaction fees for unit trusts or open ended investment companies (OEICs). Lower salaries, tax, and property prices on the Isle of Man make the fee structure possible, Tom Winnifrith, chief executive of parent company Rivington Street Holdings, said. Share trades within the SIPP are charged at £5.75 for online dealing and £7.50 for telephone dealing. Investors can enter more than 2,000 retail funds, 80% of which have no initial charge for the purchase ...