James Hay Partnership is to close its family SIPP product to new business due to a lack of adviser demand.
The provider announced today it will honour all contracts in the pipeline. James Hay has 150 family SIPP contracts in existence but only sold 30 this year, a spokesperson said. "For commercial reasons we decided to stop it," the spokesperson said. James Hay launched an e-SIPP and an i-SIPP product this year, marking a shift towards cheaper web-based or simple SIPPs. It continues to offer a full SIPP product.
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