A pensions company is bidding to take some of its rivals' market share in the Sipp market through revamping its website with a sharper focus on cost transparency.

Momentum Pensions, a Sipp provider, said it had enhanced its website in response to “escalating Sipp demand from advisers”.

The firm said it was showing its “commitment to ensuring Sipp clarity and simplicity” and cost transparency was “at the core” of the revamp.

John McCreadie, head of sales (UK), Momentum Pensions, said: “This new web development is the next stage in our ambitious plans for increased Sipp market share. Advisers are united in their demand for clarity and need for specialist technical support.

“Advisers tell us that too many Sipp providers hide behind intricate charging models in order to frustrate simple product comparisons. Our new Sipp proposition, hosted on our new website, will make advisers’ jobs much more straightforward when discussing Sipp options with their clients.”

The pensions specialist’s research shows that 91% of advisers believe that transparency of charges is important or very important when selecting a Sipp provider’s solution for their clients.

Momentum said its research provided evidence of a “buoyant Sipp market” with nearly two-thirds of advisers (64%) anticipating a sustained increase in Sipp enquiries for the remainder of 2017.