Talbot and Muir launches DFM SIPP
Investment manager City Asset Management has teamed up with provider Talbot and Muir to create a discretionary fund management (DFM) self-invested personal pension (Sipp).
It will give financial advisers access to City Asset Management’s investment proposition via their Sipp wrapper.
It will use technology to enable daily valuation updates so investors can get real-time valuations of their scheme online.
Nick Coghill, chief executive of City Asset Management, said he was delighted to team up with Talbot and Muir to offer this product.
He said: “The deal offers financial advisers and their clients a competitive transparent fee and simplified administrative process and removes the confusion of various charges with different providers.”
Graham Muir, director of Talbot and Muir, added: “For advisers, the use of a Sipp DFM solution is increasing in popularity and we look forward to working with City Asset Management.”
In September, Talbot and Muir reported a 12 per cent increase in new Sipp plans for the 12-month period to 30 June 2018.
Paul Gibson, managing director of Granite Financial Planning, questioned if the market needed another Sipp offering.
He said: “Not particularly expensive but not particularly value for money. There seems nothing unique about the product. More marketing than substance.”