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Momentum Pensions launches ‘unique’ UK SIPP


Momentum Pensions has launched its first UK SIPP specifically for UK Residents, offering also the option to switch for free within a multi-jurisdictional proposition. This is the first UK SIPP to offer such a feature.

The Momentum SIPP launches with a wide variety of Discretionary Fund Manager (DFM) investment partners in place, and plans to add more as the product evolves. It comes with a brand-new, state-of-the-art platform for advisers and their clients, with future enhancements already planned to keep it at the cutting edge of development.
The Momentum SIPP will be managed from the Group’s Manchester office and accepts a minimum transfer value of GBP40,000, with special switcher deal terms available until 30 September.
Independent research reveals that more than half (51 per cent) of advisers say they are expecting an increase in client enquiries relating to the opening of new SIPP accounts in the next 12 months. Moreover, advisers are forecasting strong growth; the research shows that three-quarters of specialists who believe their SIPP business is going to grow predict it will do so by up to 40 per cent.
The Discretionary Fund Manager partners already in place are Bordier, Brewin Dolphin, Brooks Macdonald, Brown Shipley, Investec, Nedbank, Quilter Cheviot, Rathbones, SVS Securities, TAM and Tilney.
Stewart Davies, Group CEO of Momentum Pensions, says: “Adviser feedback was telling us there is an increasing need for a SIPP that allows flexible, multi-jurisdictional switching.
“The Momentum SIPP is the first in the UK to offer this, and with our quality Discretionary Fund Manager investment partners we are confident that we have created a fully flexible product that advisers can recommend to their clients, safe in the knowledge they will benefit from a best-in-class investment process.”
Contributions can be paid at any level – within HMRC limits for tax relief – with no contractual minimum contribution. The Momentum SIPP features competitive and transparent pricing, with a set-up fee and annual fee of GBP250. The setting up of retirement benefits fee is also GBP250 and the annual income drawdown fee is GBP100.

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