Last updated16 May 2019

Reviews

Read reviews for the Curtis Banks Your Future SIPP

Charges

Charges are subject to VAT although shown excluding VAT
Initial/Set up fee£0 Online application

£100 Paper based application
Annual fee£260 - using a Curtis Banks Investment Partner &/or one deposit account

£560 full range of investment options

A further £100 is charged where no servicing IFA is linked to the SIPP
Transfer in fee£50 for cash transfers

£100 in-specie transfers
Transfer out fee£250

£350 transfer out to QROPS
In-specie transfer in fee£100 per transaction for listed simple/investment portfolio
Taking BenefitsAccessing fund using Flexi-Access drawdown, £120

Uncrystallised Fund Pension Lump Sum, £120 per payment

Conversion from Capped to Flexi-Access drawdown, nil

Payment of total fund and SIPP closure, £250

Calculation of capped drawdown benefits, £120

Payment of pension (where income taken) £150 pa

Capped Drawdown reviews/LTA test at 75/excess LTA payment, £100
Annuity purchase fee£250 plus transfer out cost
Payment of death benefits feeTime costed (min £500)
Other feesSpecialist investment due diligence/purchase fee, £500

Specialist investment due diligence/purchase fee - top up, £250

Specialist investments annual fee, £200 per annum

Implementing pension sharing order, £300

correspondence on non-payment of fees, £25

Management

Access: Direct or via IFABoth

Online capability

On-line SIPP application process which sees the establishment fee waived. Full online visibility of SIPP assets, drawdown summary, transaction history, illustrations. The online portal is completely responsive to any device to access on the go, with secure messaging for reliable, secure communications.
DetailsFull online data

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICSAll platforms allowed
External deposit accountsUnrestricted access to all 'sippable' deposit accounts
Overseas listed stock and sharesAll stockbrokers allowed
UK listed stocks and sharesAll stockbrokers allowed
AIM sharesAll stockbrokers allowed
Gilts/corporate bondsAll stockbrokers allowed
ETFsAll stockbrokers allowed
Investment trustsAll stockbrokers allowed
Discretionary managementUnrestricted access
National Savings & Investments
Unlisted sharesSubject to full due diligence
Structured products
Trustee Investment Plans
Insurance company funds
Hedge funds
Traded endowment plans
Intellectual property
Brands / trademarks
Goodwill
Third party loansSubject to a maximum of 100% of the fund, only to companies and ideally on a secured basis

Property purchase

Purchase fee£750 (VAT exempt)

plus a further £150 per member for shared purchases (VAT exempt)
Sale fee£600
Annual property administration feeProperty £475 (VAT exempt)

Land £375 (VAT exempt)

plus £150 per additional member for shared purchases (VAT exempt)
VAT registration fee£150 per property (VAT exempt)
VAT return fees£200 per annum (VAT exempt)
Other feesBorrowing: (all VAT exempt)

Extra initial charge, £250

Annual charge, £150 per annum per borrower

Additional fee for second and each subsequent tenant, £300 pa* (capped at £600 per property, or £300 where a property manager is appointed)

SIPP Bank Account

SIPP bank account providerBarclays
Current interest rate0.1%

Structure

Scheme trusteesSuffolk Life Trustees Limited
Scheme administratorThe SIPP Provider is Curtis Banks Pensions *Curtis Banks Pensions is a trading name of Suffolk Life Pensions Limited (company number 1180742) which is authorised and
regulated by the Financial Conduct Authority (FCA) (number 116298).

Minimum contributions

Regular paymentsNo minimum
Transfers/Single PremiumsNo minimum
Min additionalNo minimum

Company Information

OwnershipCurtis Banks was admitted to AIM market of London Stock Exchange 7th May 2015.

More information on the ownership structure and shareholder details can be found on the website here;

https://www.curtisbanks.co.uk/investors/
Year established2009
Funds under management£25.1 billion in total
Number of SIPPs administered77,500 +
Defaqto ratingFive Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?
Yes, if IFA advised

Misc

Flexi-Access Drawdown/UFPLS offeredYes

Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

Curtis Banks Your Future SIPP

The company, background or history

The Curtis Banks Group was established in 2009 and through a combination of organic growth and acquisitions has quickly grown to be largest independent SIPP provider in the UK. We also specialise in small self-administered schemes (SSAS); our senior team having been involved with them since 1995, giving us almost unrivalled experience in the market.

Today the Curtis Banks Group administers over 77,500 SIPPs, with assets under administration of £25.1bn (as at 30 June 2018).

We are committed to investing in our systems and proposition so that we can offer as much flexibility as we can to our clients. 2019 sees the launch of Your Future SIPP, a product which has been designed with flexibility in mind (see below). 2019 also sees the launch of our new Group-wide website and portal, which are fully responsive to all devices, allowing advisers and clients to access our services on the move.

Financial Strength

We have a Financial Strength Assessment rating of B (Strong) from AKG, with four-star ratings for Service and Image & Strategy, and a five-star rating for Business Performance.

We are well capitalised in excess of our regulatory requirements. We have an internal policy for the regulated companies within the Group to hold at least 130% of the regulatory requirement, and as at 30 June 2018 we have an aggregate surplus of £4.3m using that policy.  

Recent Awards

5 star Defaqto rating for Your Future SIPP for 2019

5 star Moneyfacts rating for Your Future SIPP for 2019

Performance and range of funds

We provide the pension wrappers only, and clients can use the investment firms of their choice, subject to our due diligence. We do not have a range of funds.

Pension Products range/suitability

Your Future SIPP is an exciting new proposition from Curtis Banks which has been designed to suit client needs in the modern world of retirement. Your Future SIPP provides advisers and their clients with the choice of virtually the whole of market investments, platforms, brokers and discretionary managers. It also provides access to our renowned commercial property proposition, with a dedicated team of professionals who manage in excess of 6,000 properties. Your Future SIPP is supported by our new online portal, offering an enhanced digital service which is fully responsive to laptops, tablets, and mobiles; allowing advisers and clients to access services on the move.

Data As At 31 January 2019