Seven Investment Management (7IM) has taken its first step as a pension provider and launched its own self-invested personal pension (SIPP) product on its platform.
The SIPP, which launched on Monday and is available only on 7IM's platform, allows investors to choose from a range of investments, including bonds, cash, structured products and exchange-traded products, though no non-standard assets are permitted. It will cost investors nothing to open and people who invest more than £75,000 face no annual fee. However, those with less than £75,000 invested will be charged £100 a year. Other charges include a £75 closure fee and a £50 levy each time an investor draws down funds. 7IM head of platform Verona Smith said launching a SIPP is a natural pa...
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