Seccl, the Octopus-owned funding platform, has launched a brand new ‘low price’ online-only SIPP.
The agency says its new on-line SIPP will present Seccl-powered funding platforms with a paperless pension resolution.
The Seccl SIPP is at present accessible to accumulation shoppers with a cost of 0.05% of pension portfolios (with a £1 monthly minimal and £4 monthly most).
Drawdown performance will comply with early subsequent 12 months.
The SIPP is designed to be versatile and scalable, Seccl says. It options an internet software and permits traders to extend, scale back or pause contributions any time with none paper paperwork.
The brand new SIPP has been constructed on the identical cloud-based, API-first ideas as the remainder of Seccl’s infrastructure.
Chris Smeaton, head of propositions at Seccl, stated many of the present SIPP propositions had been constructed on “20-year-old” tech underpinned by handbook checks and processes which makes them liable to error and pointless pricey.
He stated: “Seccl’s strategy to pensions is totally totally different. We began with a clean sheet of paper, got down to construct a wholly digital and automatic product that may be designed across the particular person necessities of any recommendation agency.
“We now have a tech stack that powers pensions with no paper, no submit, no salespeople, no six-monthly launch schedules and no name centres. Every thing is on-line, on a regular basis by way of our APIs.”
The brand new SIPP provides to Seccl’s in-house GIA, ISA and JISA performance, in addition to a variety of third-party merchandise (together with SSAS and offshore bonds).
