ESIPPS bring SIPP investment to younger generation

Average age of those investing into online SIPPs is ten years younger than other SIPPs.

James Hay, the UK’s largest SIPP provider, has released figures showing that the launch of online SIPPs has attracted a new generation of younger investors. The research, based on James Hay’s SIPP accounts, shows a marked difference in the age of investors in online SIPPs to those in conventional SIPPs.

This indicates that online SIPPs are attracting a younger generation of SIPP investors. This is borne out by the average portfolio size of online SIPPs, which tends to be much lower than those of conventional SIPPs.

The lower charges associated with online SIPPs has made such products feasible to those with smaller pensions portfolios.

Chris Smeaton, Propositions and E-Commerce Manager, James Hay, said, “These figures show how online SIPPs are attracting a new generation of SIPP investors. These tend to be younger, Internet savvy investors with smaller portfolios.

“However we would still advise that investors seek professional advice but that even online SIPPs offer unrivalled control over investment strategies for retirement, allowing investors to match risk and performance to their specific retirement goals.”

James Hay has over £11 billion assets under management with 38,000 investors. James Hay SIPP is backed by Grupo Santander. James Hay has won over 22 awards for its SIPP product and service in the last six years.