Automated investment platform Fundment has added self-invested personal pensions (SIPPs) to its white-label service for advisers.
The SIPPs will be administered by provider Liberty SIPP, with prices starting at 0.35% for funds worth less than £50,000 and dropping thereafter.
Funds of up to £150,000 will be charged at 0.25%, while investments worth more than £150,000 will incur a charge of 0.20%. The fees include the SIPP wrapper, investment management, custody and all transactions.
Fundment said its platform would allow advisers to assess their clients’ needs and risk profiles, as well as “seamlessly invest” and manage their assets through an inbuilt discretionary fund manager.
They would be able to service their clients in less than 10 minutes, it claimed, enabling them “to fight back against the robo-advisers and make real adviser expertise affordable for hundreds of thousands more clients”.
CEO Ola Abdul said: “Fundment’s mission is to put more power into the hands of advisers. We listened to what IFAs told us they wanted and built a platform that allows them to seamlessly assess their clients’ needs and manage their portfolios in a cost-effective way.
“By adding a SIPP to our platform we’ve given advisers another powerful tool that will enable them to provide more people with high quality retirement advice, backed by the power of technology.”
The platform secured venture capital funding from Swedish firm Collector Bank in June after launching in the UK in February. Fundment said the investment would allow it to scale up its business and take on more staff as the number of advisers using its technology grows.
Liberty SIPP managing director John Fox said: “Fundment are a natural partner for Liberty SIPP, as they share our drive to offer a simple, transparent and efficient product that drives down costs and empowers advisers.”
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