Dentons Pension Management and Transact have joined forces to launch a new Sipp and a “more joined-up proposition”.

The companies this morning announced they are creating the Dentons-Transact Bespoke Sipp.

Transact, which has over 50,000 Sipp customers, said the new product will extend its proposition because Dentons will allow assets in commercial property and unquoted shares to be held within their wrapper.

Dentons has reduced the fee for clients setting up Transact wrappers/portfolios as a result of “efficiencies received through systems integration”, the firms stated.

Jonathan Gunby, chief development officer at Transact, said: “We have a significant number of customers who hold Transact Sipp wrappers and continue to add more every day.

“However, if a client wishes to hold commercial property or unquoted shares within a Sipp wrapper they must use a specialist in this area for the Sipp wrapper and then open a Sipp General Investment Account with Transact for managing funds and quoted shares.

“We have worked with Dentons to create a more joined-up proposition, a consolidated view of assets and at a lower cost too."

David Fox, director of sales & marketing at Dentons, said: "Working with Transact has been refreshing, they look at the market opportunity for their clients and then continue to develop and evolve their proposition in order to remain a market leader.

“We have worked with them for many years as both companies are motivated by continually improving the service we offer advisers and their clients, so this was a natural evolution for us.

“We are now able to offer advisers a streamlined application process and provide data feeds to Transact. That means all the assets are displayed on the Transact system to make life easier for advisers."