Pershing Launches New SIPP

Stephen Little

10 November 2014

Pershing, a BNY Mellon company, has launched a self invested personal pension (SIPP) solution for its wealth management and financial advisor clients.

Pershing said in a statement that the SIPP will offer a low-cost fee structure, online services including a projection tool, and full integration within NexusComplete, Pershing’s online platform for account management.

“Our SIPP solution is transparent, efficient and cost effective, reducing the administrative burden for clients so that they can focus on managing and advising on investor assets,” said Kevin Bonar, CEO of Pershing.

“Our parent company, BNY Mellon, is the largest provider of custody and safe-keeping services in the world and introducing the new solution builds on this base. Our clients are seeing strong demand for SIPPs thanks to the wide investment choice, tax advantages and the range of retirement options available,” he added.

The new SIPP will be offered alongside the existing range of third-party SIPPs Pershing already offers through its wrapper network.