The Executive SIPP
Top SIPP adviser Intelligent Pensions has launched a low cost SIPP plan aimed at high earning executives and professionals. The ‘Executive SIPP’ comes with a lean charging structure but offers exceptional added value. Intelligent Pensions will design and manage ‘bespoke’ investment strategies based on individual risk profiles agreed with each client to maximise performance on a risk adjusted basis.
The company is targeting mid-career high earners, who move jobs several times and need to ‘sweep up’ their legacy pensions into a coherent retirement portfolio after each job change. Managing Director, Steve Patterson, says, “There is a clear demand for this service and level of internet enquiries on the Executive SIPP has been just phenomenal, it has gone right to the top on search engines like Google.”
Many large employers now only offer ‘money purchase’ style benefits such as a group personal pension through an insurance company. These often have a relatively restricted choice of ‘in house’ funds and those that offer external fund links are relatively expensive. The investment choice is normally left to the member, with no monitoring or ongoing advice. Intelligent Pensions believes this ‘one size fits all’ approach will not meet the needs of high earners who will expect and deserve a more sophisticated retirement solution ‘tailored’ to their own personal needs.
With over 1,000 existing SIPP portfolios under management, Intelligent Pensions is able to access “institutional” investment funds at far lower annual management charges than are available to individual investors. The company provides an active asset allocation strategy geared to each client’s personal risk profile, with quarterly fund monitoring and annual reports.
The company is also a leading expert in the field of ‘pension drawdown’ and sees the flexibility of drawdown offering the natural exit strategy for high earners, rather than annuities. “For the modern higher earner retirement will be an evolving process and gaining control over the flow of tax free cash and pension income will be key” says Patterson. “We are offering an ‘end to end’ solution from mid career planning through to post retirement management.”
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