Many Financial Advisors generally regarded the Momentum International SIPP to be the favorite International SIPP provider for UK residents in the offshore market. When we say offshore, we simply mean beyond the United Kingdom in the UK.
But have you worked with iPensions? If you haven’t had the chance, then it is better for you to read our throughout iPensions review or watch a YouTube video by our CEO and Independent Financial Advisor, Dominic James Murray below.
iPensions International SIPP
Before we begin our review of the iPensions, we want to make it clear that we are not getting compensated for this review; we haven’t even informed them that we are making the review. What we’d like to do is share our experience working with the company.
We began working with the iPensions SIPP because they accept insistent clients. Obviously, the case rarely happens. However, we sometimes figure out the case when a client is insisting on a final salary pension transfer, it is because a DB pension transfer has not been advised, and the client wishes to proceed with the advice.
Advice for Insistent Clients
The concept of “persistent client” refers to a person who has accepted advice but decides to do something instead of what was recommended.
you might have a client in their late 40s, and the pts pension transfer specialist has said no; the client is too young, and he or she should wait until age 55 to even draw benefits from a SIPP.
They might as well stick to their final salary plan. The client, on the other hand, may have sufficient and big assets outside of the SIPP or beyond their final salary and may just want to transfer it anyway, or they may like to assume a far higher level of risk than they can within their Scheme.
Since 2019, the Momentum has been renamed the iPensions and has grown in popularity among non-UK residents. The iPensions is a personal pension scheme offered to people resident in or outside the United Kingdom that allows you to invest your pension fund in a variety of different types of assets.
Key Facts About iPensions Review
- Platform management and monitoring are available online 24 hours a day, seven days a week.
- Over 2,500 investments from several of the world’s biggest investment companies are available.
- A pricing system that is basic and transparent, with all fees fully explained upfront and honest.
- Residents of the United Kingdom and other countries are welcome to apply.
The iPensions SIPP allows you to contribute at any level you like, as long as they are within the HMRC tax relief limits. There is no contractual requirement for a minimum contribution.
From our perspective, The service has been excellent; the initial application and process with the iPension are very efficient, as is the onboarding of clients; everything is done by electronic signature and no original paperwork is required, which is clearly always a plus.
iPensions provide its clients with several options in terms of investment for their UK Pension transferred assets. The following are options that they provide:
- Investment Trusts
- Exchange Traded Funds
- Structured products
- Cash & Deposit Accounts
iPensions SIPP Charges
Our comment on the iPensions SIPP, which has been rebranded from the Momentum International SIPP, has been overwhelmingly good. The iPensions platform is not the cheapest on the market, but the price they offer is extremely competitive. We outlined the details of their charges and fees in the table below.
|Platform||Set-Up Fee||Transfer in fee||Annual Fee||Transfer Out to Other Scheme|
|iPension (momentum) Adviser SIPP (under ￡1M)||£300||£0||£500||£500|
|iPensions (Momentum) Adviser SIPP (£1m to £1.5m)||£300||£0||£1000||£500|
|iPensions (Momentum) Adviser SIPP (£1.5m to £2m)||£300||£0||£1500||£500|
|iPensions (Momentum) USA SIPP (under £1m)||£300||£0||£500||£500|
|iPensions (Momentum) USA SIPP (£1m to £1.5m)||£300||£0||£1000||£500|
|iPensions (Momentum) USA SIPP (£1.5m to £2m)||£300||£0||£1500||£500|
iPensions have many clients residing around the world that relies on the online platform to access their investment assets. As a company who have international clients, iPensions provide their clients with an online platform that is intended to serve all of their clients to be able to manage and withdraw their SIPP, all in one place.
In case you forgot your login credentials, you can always email iPensions or their Independent Financial Advisors directly and saying, “I don’t have my login.” and your IFA will connect you with iPensions to do a few clarifications and verifications before providing you with your logins credentials. This is an excellent feature to guarantee you will always have full online access to your account.
Cameron James – Expat Financial Planning, Your Trustworthy Pension Transfer Specialist.
Cameron James – Expat Financial Planning is the preferred independent financial adviser for International SIPP transfers. With over 10 years of experience in transferring pensions, Cameron James is now servicing clients in 26 countries.
We have the qualifications and technical knowledge required to help you transfer to international SIPP both as an ex-pat and US resident. Our mission is to bring regulated and transparent advice to our clients. As such, our clients fully know how much their advice will cost in advance, with no hidden fees.
Cameron James – Expat Financial Planning has a sophisticated cash flow management system in place. Our senior management team has a decade of expertise serving ex-pats and is committed to continuing to serve the requirements of expats for decades to come.
Transferring a DB or DC pension into an International SIPP plan for expats is not a simple decision. Before deciding, many details and procedures must be thoroughly understood. Without comprehension, the benefit will turn into a potential loss.
It is essential to seek a set of competent advice from a qualified financial adviser to verify that your profile matches the suitable options and to ensure that your choice meets the UK and US regulations. Meet one of our dedicated advisers to get a comprehensive understanding of International SIPPs via free initial consultation with us.