‘Robo-killer’ platform adds low cost Sipp

New investment platform Fundment - promoted as a potential ‘robo-killer’ - has added a low cost SIPP option to be administered by Liberty SIPP. The SIPP is the latest wrapper to be added to Fundment, a new automated platform which works with financial advisers. Fundment says its service allows advisers to assess their clients’ needs and risk profile as well as invest and manage their assets through an in-built discretionary fund manager (DFM).The new SIPP has a sliding cost scale:Funds under £50,000 – 0.35% paFunds up to £150,000 – 0.25% paFunds over £150,001 – 0.20% paThe price is all inclusive, providing the SIPP wrapper, investment management, custody and all transactions.Fundment says its uses a simple, multi-function dashboard, to allow advisers to work more efficiently, even with clients with small portfolios. The company says advisers using the system should be able to advise clients on a SIPP in less than 10 minutes.Fundment, which completed its third funding round earlier this summer, received FCA authorisation in April 2016 with the platform going live in February this year.Dubbed a ‘robo killer’ by its owners because of its low cost automated investment technology, it claims to enable advisers to “fight back” against the robo-advisers and make “real adviser expertise” affordable for hundreds of thousands more clients, combining platform technology and the human advice touch when needed.Ola Abdul, chief executive and founder of Fundment, said: “We are delighted to be able to give IFAs access to a low cost, high quality SIPP as part of the Fundment offering.‘’Fundment’s mission is to put more power into the hands of advisers. We listened to what IFAs told us they wanted and built a platform that allows them to seamlessly assess their clients’ needs and manage their portfolios in a cost-effective way.‘’By adding a SIPP to our platform we’ve given advisers another powerful tool that will enable them to provide more people with high quality retirement advice, backed by the power of technology.’’John Fox, managing director of Liberty SIPP which administers 10,000 Sipps, said: “Fundment are a natural partner for Liberty SIPP, as they share our drive to offer a simple, transparent and efficient product that drives down costs and empowers advisers.”

‘Robo-killer’ platform adds low cost Sipp

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