Talbot & Muir has said its new low-cost Sipp will be launched on 1 September with five or six discretionary fund managers available.
The new product was already soft-launched this month and is available for new business but will be fully launched in September.
It will be a simple retirement product and offer a bank account and the choice of one DFM from a panel of DFM providers.
Oliver Bowler, business development consultant at Talbot & Muir, said the firm was working to establish relationships with DFM providers.
He said there were four providers in the pipeline which were currently going through due diligence.
It is anticipated there will be five or six DFMs by the launch and then 10 firms by the end of the year.
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Talbot & Muir has traditionally focused on offering bespoke products which focus on commercial property and land purchases.
The firm said it hoped this new product would show advisers that it can be used to service both ends of the market.
Mr Bowler said: "This is the lowest cost thing we have ever done. We're going into a market that we've never looked at before and we want to show advisers that we now have an answer for everything, a complete range of Sipp products."
The firm is celebrating its 20th anniversary this year after being set up in 1993.

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