Momentum launches new 'clearer charges' property SIPP

Its Property SIPP is designed as a new concept for those looking for commercial property investment with a simplified fee structure that has charges clearly stated upfront.

It forms part of an enhanced SIPP range following feedback from advisers and clients which highlighted growing demand for increased transparency over charges and the level and number of fees. The feedback is that meaningful comparisons cannot be made due to complex fee structures, with no commonality between providers.

The new range comprises of: Momentum Core SIPP, a standard SIPP with a panel of quality investment providers; Momentum Property SIPP, designed for those who want commercial property investment with a clear fee structure; Momentum Advanced SIPP, an open architecture SIPP for those with more sophisticated investment needs; and the Momentum International SIPP, a SIPP specifically designed for the needs of non-UK residents.

John McCreadie, Head of Sales (UK), Momentum Pensions, said:

“Advisers continue to highlight the need for clarity over charges and the demand for a system where they can easily compare products without having to wade through endless reams of complicated small print has never been higher.

“There is a particular lack of clarity in the property purchase market which is an area that needs addressing urgently and the Momentum Property SIPP is designed to do that.”