The product will join the firm’s existing range which it says “offers a lower cost option for advisers and their clients.”

David Phillips, managing director of DP Pensions, said: “We have seen unprecedented change in the pensions industry in recent years and advisers are looking to partner with firms that are developing their product ranges, are financially strong and committed to the market for the long term. 

“We are seeing growing interest from advisers using a single fund manager and have developed the Premier Trust Single

Investment SIPP to meet this need.”

The SIPP will be able to hold the plan bank account and one investment account with a panel investment manager.

DP Pensions has over 40 investment managers on the panel.
 
Elaine Turtle, director, DP Pensions, added: “Advisers are under increasing pressure to minimise the time they spend on administration and enable them to spend more time advising clients. 

“They are looking for products that are simple to set up and are cost effective for clients. 

“That is exactly what the Premier Trust Single Investment SIPP does. 

“At just £195 a year, this product is not only transparent but also flexible with a wide range of DFMs, platforms and stockbrokers available.

"It meets the needs of advisers and their clients.”