Launching a new SIPP (Self-Invested Personal Pension) at the same time as two regulatory reviews are underway and the market is in a state if upheaval is a brave move, but that’s exactly what Astute Trustee Services have done.
The Preston based organisation, led by Professional Trustee, Andy Mclaughlin has recently launched a Simple SIPP as well as a Complex SIPP; a SSAS (Small-Self Administered Scheme) completes the range.
The Simple SIPP, as the name suggests, offers access to directly held stocks and shares, as well as Unit Trusts, all held on the Pershing / 7IM platform.
The initial charge is £120, with an annual fee of £240 plus 0.3% platform charge.
As the name suggests the Astute Trustee Services Complex SIPP is available for investors and advisers who wish to access a wider range of investments, particularly commercial property, structured products and third party deposit accounts.
The set-up fee for this SIPP is £495, with an annual charge of £480 plus a 0.3% platform charge if this option is used.
Flexibility and service key
The Simple and Complex SIPP are extremely flexible both in terms of the types of investment they will allow and how they will allow investors to access their funds at retirement with both Income Drawdown, as well as Flexible Drawdown, available.
Commenting on the launch, Andy Mclaughlin said: “Having been frustrated by the poor service levels offered by a number of SIPP providers, as well as their ever tightening terms and conditions, we felt we could do the job better.”
“We plan to grow to a sensible size, which for us is probably around 200 SIPPs and 100 SSASs. This will give us the best of both worlds; the all-important critical mass to be profitable, whilst being small enough to offer our IFA clients the bespoke solutions their clients need. ”
No legacy Issues
Astute also benefit from not having legacy issues with toxic investments or capital adequacy concerns, which are bubbling to the surface with some pension providers.
This gives them the flexibility to offer a common sense approach for IFA’s and clients, to ensure investor’s retirement and investment goals are achieved within the scope of the current regulatory environment.
Andy Mclaughlin can be contacted on 01772 781889 or by emailing firstname.lastname@example.org
More information on the two SIPPs can be found here: