Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

MOMENTUM ENHANCES CHARGING TRANSPARENCY

MOMENTUM ENHANCES CHARGING TRANSPARENCY

Published : , on

  • New fee schedule introduced after consultation with advisers and clients
  • Simplified structure limits charges to annual, variation and money out fees

Momentum Pensions, the growing pension specialist and SIPP provider, has enhanced the transparency of charging on its UK SIPP in response to feedback from advisers and clients.

It has introduced a simplified new schedule for the Momentum SIPP just six months after its UK launch to ensure it stays ahead of the demand for clarity on charges in the SIPP market.

Momentum launched its first UK SIPP – the first to offer the option of switching for free within a multi-jurisdictional proposition – in June this year and is already established as a top 20 provider in the UK from standing start.

In contrast to increased complexity across the industry the new fee schedule features only an annual fee to cover the day to day administration of the scheme and a variation fee if changes are made to the policy.

A standard money out fee would apply to cover the cost of moving money away from Momentum, however movement to other schemes offered by the group remain free.

John McCreadie, Head of Sales (UK), Momentum Pensions, said: “Transparency over charges and the level and number of fees are crucial to advisers and their clients and that has been the strong message coming back to us since launch in June.

“We have adjusted our fee schedule to address their needs and will continue to ensure we are as transparent as possible. As a new provider we do not have the legacy issues others do and are able to adapt quickly to what advisers and clients are telling us.”

The Momentum SIPP launched with a wide variety of Discretionary Fund Manager (DFM) investment partners in place, and has added more since June with others waiting to be signed up. It offers a state-of-the-art platform for advisers and clients, with future enhancements scheduled to keep it at the cutting edge of development.

The Momentum SIPP is managed from the Group’s Manchester office and accepts a minimum transfer value of £40,000.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post