Pointon York launches low-cost simplified Sipp

Pointon York has launched a simplified Sipp offering access to a single discretionary portfolio.

The Single Investment Sipp is a simplified version of the firm's existing Sipp and carries a £300 annual management charge. The existing Sipp carries a £630 annual charge.

Advisers are able to use a discretionary manager of their choice or can manage the portfolio themselves.

Nic Lewis, Pointon York director of distribution, said: ‘Our new product has been created to meet the demands of our IFA customers. More specifically, IFAs who want to offer their clients access to a single discretionary portfolio at a low cost.

‘IFA customers can use any discretionary fund manager, fund supermarket or platform. As more people look for flexible retirement planning tools, it is important that IFAs have access to cost-effective solutions from providers that can offer a truly bespoke service.’