Momentum Pensions has launched a SIPP product to help tackle the lack of transparency in the property purchase market.
It has also redesigned all of its SIPP range to have clearer charges.
Momentum’s Property SIPP is designed as a new concept for those looking for commercial property investment with a simplified fee structure that has charges clearly stated upfront.
It forms part of an enhanced SIPP range following feedback from advisers and clients which highlighted growing demand for increased transparency over charges and the level and number of fees.
The Momentum SIPP range is designed to evolve with clients as their investment requirements change, enabling members to move between the products, free of charge, as required. The new range comprises of:
Momentum Core SIPP: Standard SIPP with a panel of quality investment providers.
Momentum Property SIPP: Designed for those who want commercial property investment with a clear fee structure.
Momentum Advanced SIPP: Open architecture SIPP for those with more sophisticated investment needs.
Momentum International SIPP: SIPP specifically designed for the needs of non-UK residents.
John McCreadie, head of sales (UK), Momentum Pensions, says: “Advisers continue to highlight the need for clarity over charges and the demand for a system where they can easily compare products without having to wade through endless reams of complicated small print has never been higher.
“There is a particular lack of clarity in the property purchase market which is an area that needs addressing urgently and the Momentum Property SIPP is designed to do that.”
Momentum has a pedigree in the SIPP market stretching back over 20 years and is established as a top 20 provider in the UK.
The Momentum SIPP Range is administered in Sale, Manchester and is backed by a highly skilled team with extensive servicing and technical expertise, including property transactions, within the specialist pension market.
It was the first company to offer the option of switching for free within a multi-jurisdictional proposition.