A Sipp provider has announced a partnership with an online investment management company.
Hornbuckle will team up with Nutmeg as the administrator of its new personal pension. Under the partnership, Hornbuckle will provide its new administration technology, powered by FNZ, to service pension trustee and white-labelled client administration to Nutmeg. Nutmeg's Personal Pension will be launched early 2015.
Phil Smith, chief executive of Hornbuckle, said: "We are pleased our new technology and straight through processing methodology was chosen in a competitive tender by Nutmeg.
"We are excited to be working with one of the most digitally innovative distribution partners in the country as they enter the pensions market.
"Their selection validates the investment we are making in user experience, product design and technology solutions that we will roll-out to our clients and distribution partners during 2015.
"The freedoms brought about by the new pension reforms will only serve to increase client demand for ease and flexibility of servicing capabilities for all asset types. Our new technology portal, Embark, will be able to provide these for both traditional and non-traditional assets."
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Nick Hungerford, chief executive of Nutmeg, said: "We are delighted to confirm the appointment of Hornbuckle as administrators of the Nutmeg Personal Pension. Hornbuckle have proved themselves an excellent match for us.
"They share our vision for developing investment and pension services that are refreshingly intuitive, accessible and that give our customers excellent value, and we are now working together to deliver a pension service that is in keeping with that Nutmeg philosophy.
"This year we have carried out extensive research to understand what our customers really want from a pension service and the Nutmeg Personal Pension will deliver exactly to their wishes. It will be easy to use, flexible and intelligently managed, all for one simple, low annual fee."