Bringing you live news and features since 2006 

Ascentric launches pension plan


Ascentric, the independent wrap platform, has launched the Ascentric Pension Account, a low cost Sipp that provides IFA clients with the opportunity to consolidate their holdings into a si

Ascentric, the independent wrap platform, has launched the Ascentric Pension Account, a low cost Sipp that provides IFA clients with the opportunity to consolidate their holdings into a single product.
The APA is a direct result of IFA requests for such a product and will complement the 20 Sipps already available on the Ascentric Wrap platform through its product partners. 
The new plan is designed for IFA clients wanting to use the Ascentric Wrap, but not requiring the complexity or expense of a full Sipp. It is also for those who want to save for retirement within a tax efficient environment and for those over 50 (55 from 6 April 2010) who wish to take retirement income from all or part of their pension fund immediately.
Clients can transfer existing plans to the APA from any UK registered pension scheme, including protected rights and/or contracted out benefits, making it appropriate for clients looking to consolidate their pension plans.
Through the Ascentric Wrap, the APA offers a range of investments allowing IFAs to tailor the product to the risk profile and retirement needs of their clients. This includes access to around 3,000 unit trust and Oeics as well as specialist funds, managed funds, investment trusts, exchange-traded funds, bonds, direct share holdings and cash where approved by HMRC for Sipp investment. The APA does not support the holding of property, unlisted shares or personal belongings (such as art, wine or antiques) as part of the investment portfolio.
Hugo Thorman, Ascentric’s managing director, says: ‘We continually listen to IFA users of our wrap platform to determine how Ascentric can best meet their needs through the products and services we offer. The APA offers the best of both worlds: a market-leading wrap platform with a simple, low cost Sipp. Sitting alongside our other product partners, IFAs now have more freedom to decide which product is most appropriate for their individual clients.’
As well as the standard tax benefits provided by pension schemes, the APA also offers a number of income options including the ability to take income from the pension without buying an annuity (unsecured pension and alternatively secured pension), taking benefits in stages (phased retirement), and flexibility for dependents following death.
There is a GBP150 set up charge, GBP150 per annum administration charge, in addition to the normal Ascentric dealing costs. Ascentric is waiving the pension transfer charge (GBP50) for a six month period from launch.

Latest News

BlackRock’s global ETP flows report for June finds a steady rise with USD128.1 billion added to global ETPs in June,..
Morningstar’s global ETF flows report for the first half of 2024 shows that actively managed ETFs have captured 25 per..
The surge in bitcoin ETF launches and funds flowing into the sector is transforming institutional investment in digital assets but..
LSEG Lipper’s latest research finds that the majority of actively managed funds and ETFs globally were not able to beat..

Related Articles

Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Andrea Busi, Directa SIM
Romain Thomas talks to Andrea Busi (pictured), CEO of Directa SIM, who explains why the online trading platform has just...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by