James Hay marks merger with dual SIPP launch

James Hay and IPS Partnership, both owned by IFG Group, have combined to form James Hay Partnership.

The new firm handles 40,000 clients, £12bn funds and deals with 8,000 IFAs.

To mark the deal, James Hay Partnership has launched the iSIPP, a web-based product the company says will challenge the AJ Bell SIPPcentre.

The iSIPP, which has an annual fee of £180, allows buying and selling of 1,800 collective funds on the James Hay Investment Centre fund platform, and offers execution-only share dearling, a fixed-term cash deposit panel, and a panel of five discretionary fund managers.

Today also sees the launch of the James Hay Partnership SIPP, a full SIPP allowing any HMRC-approved investment. This is subject to a £395 set-up fee and a £445 annual fee, charged in arrears.

"We have introduced the IPS way into James Hay," says Richard Mattison, business development director, James Hay Partnership.

"In addition, the formation of the James Hay Partnership has given us the opportunity to improve our systems and to give the IFA and client a seamless service.