From September, Principal will be paying the initial administration and annual charges for clients investing £250,000 or more in Sanlam’s OneSIPP if they appoint Principal as the full service discretionary investment manager.
Clients with less than £250,000 will also benefit from exclusive reduced charges.
Adrian Jewitt, Principal’s Sales and Marketing Director says:
“Principal has always had a focus on providing value for money services. We are keen to build on this, and improve the range of services we offer, hence this latest deal. A £250,000 client will save over £1,300 in SIPP charges in the first year alone.
"SIPPs can be vital to the investment plans of clients. We are confident IFAs will recognise the strength of this offer, which will be attractive to many new clients.
“Being part of the Sanlam Group enables us to draw on Sanlam’s wide range of services in the UK, which benefits clients and IFAs. The OneSIPP product provided by Sanlam Investments and Pensions has a facility for co-trustees, flexible property options and all charges are inclusive of VAT.”
Principal’s 0.75% annual management charge to the client now covers their own annual investment charge and the initial and annual administration charges of the Sanlam OneSIPP.
Adrian adds:
“Here at Principal our ethos is all about added value, choice and customer service, and this deal highlights just that. We have great expertise in SIPP management, and offering the free OneSIPP provides another quality, cost-effective investment solution for our clients.”
