Sipp provider Talbot & Muir has provided more details of its new 'simple' Sipp product aimed, it says, at removing the complexity associated with some self-invested pension schemes.
The Simple Retirement Account (SRA) has been launched to coincide with the firm's 20th anniversary and, according to the company, reduces the complicated forms and abstract charging models that have become common in the marketplace.
Nathan Bridgeman, Talbot & Muir director of sales and marketing, said: "With the SIPP market facing challenges and continuing to contract, we felt it was a good time to take a fresh product to market and bring with it a fresh approach.
"Our 20 years in business has shown us that advisers are increasingly looking for products which ease workload and cut down the time and resource spent on things like administration, while not compromising potential returns for the end client."
Talbot & Muir has partnered with four discretionary fund managers (DFMs) to launch the SRA Account. Brooks Macdonald Asset Management, Brewin Dolphin, Canaccord Genuity Wealth Management and Close Brothers are all supporting the launch.
Andrew Denham-Davis, director of intermediary sales at Brooks Macdonald said: "In the challenging post RDR environment, it is refreshing to see a product designed to ease a Financial Planner's workload without compromising service levels and being able to incorporate a considered shortlist of DFMs."
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Robin Beer, national intermediaries manager for Brewin Dolphin Limited, said: "We have always had a good relationship with Talbot & Muir, which has been based on our shared values around integrity and client service, and look forward to working in partnership to deliver a high quality experience to both financial advisers and their clients."
Lucy Edwards, business development manager for Canaccord Genuity Wealth Management, said: " Talbot & Muir and Canaccord Genuity Wealth Management have always believed in providing exemplary client service. We believe part of offering a first-rate service to clients is listening to their needs and requirements."
David Muncaster, head of intermediary sales at Close Brothers, commented: "We have been working with Talbot & Muir for a number of years and have developed a strong working relationship and shared focus around delivering an excellent client service. We are therefore delighted to have been chosen as a partner."
The SRA has one application form and one single investment, made up of one bank account and one DFM portfolio. There is no set up fee and just one administration cost of £250.