James Hay’s iPlan offers ‘switch on/switch off’ approach to UK investors

James Hay Partnership, the platform for retirement wealth planning, has launched the Modular iPlan which features the switch on/switch off approach of the firm’s Modular iSIPP to non-pension wrappers.

James Hay’s modular approach is aimed at minimising the administration charges investors pay while retaining the option to include specialist investments including structured products in their portfolios as and when investors need them.

“We do support structured products within the Modular iPlan (which offers SIPP, ISA and GIA wrappers) and from our experience we find that financial advisers like to use structured products as part of a balanced portfolio,” a James Hay Partnership spokesperson told SRP.

Building on the firm’s Modular iSIPP, which was launched in January last year, the platform is applying the same principles of increased investor choice and control to general investment accounts (GIAs) and individual savings accounts (ISAs).

“We’ve taken 30 years’ experience and devised a flexible and fair way for investors to gain access to an extensive range of investment options in a manner, and at a point in their lives, that best suits their retirement wealth planning and income-drawing needs,” said Alastair Conway chief executive at James Hay Partnership, explaining the rationale for adopting a modular approach. “It’s such a simple concept it’s incredible it hasn’t been done before.”

The firm said that investors will only pay for what they use when they use it, meaning they can switch on and off a wide range of investment options to suit their specific investment needs throughout the cycle of retirement wealth planning and drawing income.

The full suite of wrappers and underlying modular investment options is called Modular iPlan and the Modular iSIPP acts as the gateway product.

The Modular iPlan offers more 2,200 investment funds via the Investment Centre SIPP, starting at 18 bps and tiering down to 5 bps; whole of market; DFMs; fixed-term deposits; commercial property; and specialist investments including structured products.