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Curtis Banks launches new family Sipp product

FT Adviser

Curtis Banks launches new family Sipp product

Self-invested personal pension (Sipp) specialist Curtis Banks has launched a new product that will pay out to one or more family members.

The Flexible Family trust - which will also pay scheme pensions - will be able to pay scheme pensions as an alternative unsecured and alternatively-secured pensions.

By paying scheme pensions the new Sipp will help to boost pension income, particularly for those in drawdown aged 75 plus.

Steve Hart, business development director of Curtis Banks, said the new product had already received a lot of interest from clients and strong interest from advisers.

He said: "The Flexible Family trust is a niche product but it can provide significant benefits for the right client and we are seeing a strong level of interest from planners and advisers with mature, high net worth clients."

The new product will see all members receive their own individual Sipp, but will allow for investor to pool pension assets for investment purposes. The charging structure will also enable family members to access a full Sipp product at low cost.

Rupert Curtis, managing director of Curtis Banks, said the specialist was well-placed to offer the new product to advisers.

Mr Curtis said: "Specialist products such as this need careful handling and our substantial experience in this market makes us well-placed to operate them."

http://www.ftadviser.com/FTAdviser/Pensions/Personal/SIPPs/News/article/20091005/07c3b93c-b18a-11de-b38a-00144f2af8e8/Curtis-Banks-launches-new-family-Sipp-product.jsp

 

  • Story by: Rob Langston
  • 5 October 2009