James Hay adds 7IM to iSIPP

James Hay Partnership’s online SIPP now offers discretionary fund management (DFM) through Seven Investment Management (7IM).

The 7IM iSIPP with DFM has no annual or set-up fee, but charges £50 for transfers in or to establish a regular contribution.

The discretionary service comes with regular reports and use of 7IM's platform.

The investment manager divides its approach to asset allocation into two stages: firstly strategic, basing allocation on historical asset class performance data, and then tactical, based on market views.

The development follows a spate of releases into the simple SIPP market this year.

In Q1 this year, AJ Bell added an ISA and a dealing account to its online offering SIPPCentre.

Weeks later, James Hay launched iSIPP , which it pitched as sitting between its low-cost e-SIPP and full SIPP product.

In June, Suffolk Life followed with its own simplified offering, the SmartSIPP, and in October Xafinity launched SimplySIPP, a product cheaper than its main SIPP with a limited investment range.