James Hay Partnership has launched a new iSipp and Investment Centre platform to offer clients access to a variety of funds.

The iSipp was launched in advance of the new RDR regulations coming into effect next year.

The investment options include an online trader service from Selftrade, access to a panel of five discretionary investment managers, a panel of cash deposit accounts and an Investment Centre funds platform.

The Investment Centre platform offers access to 1,800 commission free funds and discounts with over 60 leading fund houses.

Chris Smeaton, head of product development at the James Hay Partnership, said: “With RDR in mind we have genuinely abolished all commission, together with any fund transaction charges to make our iSipp one of the most competitive on the market today.”

Most fund supermarkets pay an annual commission of 0.5 per cent, deducted from the value of any funds owned.

This means costs to the investor can increase significantly over time.

Mr Smeaton said: “Instead of taking commission which is embedded within the annual management charge of the funds, our advisers can choose from a range of flexible adviser charging options which would come from the client’s iSipp cash account.

I think this will be the way all fund supermarkets are likely to go in the future.”