SIPP sales doubled since A-Day

18 August 2006
The introduction of pension reform laws back in April has led to a 100 per cent increase in take up of Self-Invested Personal Pensions (SIPPs) through Fidelity FundsNetwork.

One of the UK's leading investment platforms, FundsNetwork reported sales figures for its pension schemes over the past five months, noting that June represented one of its best months.

SIPPs generally offer a wide range of options for investment of people's pension funds, from specialist sectors to property and equity funds.

"Post A-day, the new business numbers are fantastic and reflect the increasing trend for utilising a platform SIPP as the pension vehicle of choice for new investments and for consolidation of legacy assets," said David Dalton-Brown, the head of FundsNetwork.

"It also shows just how popular our SIPP offering has become for advisers. We believe our SIPP represents the key operational values of the whole of the FundsNetwork offering – choice, flexibility and value for money for both advisers and their clients."

Mr Dalton-Brown also noted that "asset allocation has never been more important" and that he was pleased to see advisers apportioning funds across a wide range of investment opportunities.

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