Investment app launches commission-free SIPP

FCA regulated stockbroker and investment platform app Freetrade has launched a SIPP, administered by Gaudi. The SIPP is designed to make investing easy with a mobile app to consolidate multiple pension pots and commission-free instant dealing in a range of stocks, ETFs and investment trusts. The Freetrade app currently offers commission-free investing to over 300,000 UK customers. The Freetrade SIPP will be provided for a flat-fee of £9.99 per month. This will be discounted for subscribers to their premium service. Adam Dodds, CEO of Freetrade, said: “For generations of young people in the UK, it's more important than ever to be actively investing for your retirement. By establishing disciplined savings habits early, you can do so much to set yourself up better to enjoy later life. We want to build an easy-to-use app that makes investing accessible and that helps set our customers up to achieve better financial outcomes.” With the Freetrade deal, Gaudi now provides the technology, administration, technical and compliance supports to over 20,000 SIPPs. Patrick Vaughan MD of Gaudi said: “We are incredibly pleased that Freetrade selected Gaudi as its SIPP administrator. Freetrade is the 15th business partner to entrust Gaudi with their SIPP and drawdown administration. This is testament to our technological ability to administer pensions in a competitive and timely way. Gaudi is not resting on its laurels; we will be launching a range of market leading pension draw down propositions and tools for fintechs and the pensions industry before Spring.” Freetrade describes itself as a commission-free investment platform and is a member of the London Stock Exchange. The firm recently raised £24m across crowdfunding and a Series A venture capital raise led by Draper Esprit.

Investment app launches commission-free SIPP

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