Wealth manager Towry is to move its self-invested personal pension (SIPP) clients onto the James Hay platform after the closure of its SIPP operation later this year.
Towry said it will stop accepting new SIPP business at the end of June and begin transferring its 4,000 self-invested pension clients on to the James Hay platform over the following months. Towry said it will recommend James Hay as its 'preferred partner' for SIPP business after the closure of its own operation. However, it added it will give old and new clients the chance to opt for a different SIPP provider. Further reading: SIPP provider to launch on-platform DFM panel Towry advisers will still oversee clients who transfer their SIPPs to James Hay. Their pensions will be ad...
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