CMC Invest, the shares trading arm of CMC Markets (LON: CMCX), is expanding its services in the UK by introducing a self-invested personal pension (SIPP). Announced last Friday, this new offer is presented as a flat-rate product in collaboration with Quai Investment Services, available exclusively via its Premium package.
A SIPP provides UK individuals with a self-managed pension corpus that guarantees a pension in retirement, offering significant tax benefits. The inclusion of SIPPs in the Premium plan is designed to attract long-term investors with its attractive features: £0 commission on all transactions, 0.5% foreign exchange fee, flexibility in pension withdrawals and access to multi-currency wallets. Additionally, investors can transfer existing pensions to the SIPP.
To attract new customers, CMC Invest has waived the Premium plan's usual £25 fee, offering it free for the first 12 months.
“Navigating the complex landscape of retirement and investment fees can be intimidating, and it’s easy for clients to feel overwhelmed. This is precisely why we are introducing a flat fee structure with our Premium plan,” said David Dyke, Head of CMC Invest.
A simplified pricing structure
The rationale for the flat fee model comes from a survey of 2,000 investors, each with more than £10,000 in investable assets, which found a third of pension-holding investors were unaware fees charged on their pensions. This percentage rises to 44 percent among female investors.
“With our flat fee, regardless of portfolio size or trading frequency, clients will pay a consistent monthly fee. This transparency simplifies financial planning, eliminating the need for complex calculations to understand pension costs,” Dyke explained.
CMC Invest was initially launched in the UK in October 2022 and expanded to Singapore in September last year. It is also available to investors in Australia. Operating independently of CMC's established Contracts for Differences (CFD) trading platform, CMC Invest aims to offer a distinct experience focused on direct investments.
Earlier this year, CMC Invest recruited Team Singapore track and field sprinter Shanti Pereira as its brand ambassador to promote early-stage investing and financial literacy, particularly among young female investors.
CMC Invest, the shares trading arm of CMC Markets (LON: CMCX), is expanding its services in the UK by introducing a self-invested personal pension (SIPP). Announced last Friday, this new offer is presented as a flat-rate product in collaboration with Quai Investment Services, available exclusively via its Premium package.
A SIPP provides UK individuals with a self-managed pension corpus that guarantees a pension in retirement, offering significant tax benefits. The inclusion of SIPPs in the Premium plan is designed to attract long-term investors with its attractive features: £0 commission on all transactions, 0.5% foreign exchange fee, flexibility in pension withdrawals and access to multi-currency wallets. Additionally, investors can transfer existing pensions to the SIPP.
To attract new customers, CMC Invest has waived the Premium plan's usual £25 fee, offering it free for the first 12 months.
“Navigating the complex landscape of retirement and investment fees can be intimidating, and it’s easy for clients to feel overwhelmed. This is precisely why we are introducing a flat fee structure with our Premium plan,” said David Dyke, Head of CMC Invest.
A simplified pricing structure
The rationale for the flat fee model comes from a survey of 2,000 investors, each with more than £10,000 in investable assets, which found a third of pension-holding investors were unaware fees charged on their pensions. This percentage rises to 44 percent among female investors.
“With our flat fee, regardless of portfolio size or trading frequency, clients will pay a consistent monthly fee. This transparency simplifies financial planning, eliminating the need for complex calculations to understand pension costs,” Dyke explained.
CMC Invest was initially launched in the UK in October 2022 and expanded to Singapore in September last year. It is also available to investors in Australia. Operating independently of CMC's established Contracts for Differences (CFD) trading platform, CMC Invest aims to offer a distinct experience focused on direct investments.
Earlier this year, CMC Invest recruited Team Singapore track and field sprinter Shanti Pereira as its brand ambassador to promote early-stage investing and financial literacy, particularly among young female investors.