Robo adviser launches SIPP with free unlimited advice

By Daniel Lanyon on 3rd October 2018

Robo-Advice

The new service follows in the footsteps of several other disruptor wealth platforms such as MoneyFarm and Scalable Capital.

Robo adviser launches SIPP with free unlimited advice

Digital wealth management platform Wealthsimple will now offer its UK clients a pension function via a self-invested personal pension (SIPP), with account opening taking "minutes" with "no paperwork". 

Robo advice platforms such as Wealthsimple have come to see the SIPP market as a key route to scaling up to profitabillty. Wealthsimple joins several other platforms such as MoneyFarm and Scalable Capital in launching SIPPs.

The Wealthsimple Pension comes with unlimited access to investment advice from a human adviser at no additional cost. Customers have access to globally-diversified ETF-based portfolios with fees of 0.7 per cent for under £100,000, 0.5 per cent for over £100,000 and no minimum account size.  Wealthsimple says any transfer fees are covered.

“Retirement is something people should look forward to, but traditionally UK pension providers haven't made it easy for people to save for their future. Fees are high, there's little flexibility and next to no support,” said Toby Triebel, CEO Europe, Wealthsimple.

“We're bringing the simple, human approach we're known for to pensions and giving people access to the advice and guidance they need to build a smart retirement strategy for their future.”

Companies can contribute to an employers Wealthsimple Pension.

Wealthsimple has 100,000 customers globally who have invested £2bn of their savings and is backed by the Power Financial group of companies. Power Financial Corporation holding company that has interests in the financial services sector in Canada, the United States and Europe.

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Companies in this Article:

Scalable Capital
Wealthsimple

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