The full version of the company’s Pro SIPP and its small self-administered scheme (SASS) will now be available alongside the existing Momentum SIPP through Manchester-based Momentum Pensions Limited.
Momentum Group chief executive Stewart Davis said: “The Pro SIPP and the SSAS are the latest additions to our expanding portfolio in the UK, and come in the wake of the purchase of the majority stake in the Group’s UK business.”
“This puts us in an even better position to afford our members even more flexibility when it comes to how they wish to invest their pension.
The Pro SIPP is a bespoke personal pension that will allow members to invest in a range of assets including commercial property and unquoted shares at a level of their choosing.
The Momentum SSAS is a company pension scheme normally set by company directors. The product can make loans to a sponsoring employer, which the company says makes it attractive to high net worth individuals.
The Group has also hired a business development manager to focus on its growth in London and the South East of England.
Maria Betti – who will leave her role as a regional account manager at SIPP provider Curtis Banks – will work alongside Paul Forman, head of sales, UK and Europe, and will be based in Momentum’s Manchester office.
Raising the stakes
Momentum Pensions raised its stake in Momentum Pensions LTD to 80% last month, giving it full control over the UK company, formerly known as Calderwood Pensions.
The purchase came two years earlier than expected as a result of strong growth across the company’s UK and International business.
The completion of the acquisition came after the group purchased a 50% stake in the company in October last year.