JFM launches 'no fee' income drawdown product for small pots
Jessop Fund Managers (JFM) has launched an income drawdown solution for advised clients with small to medium sized pension pots.
The plan will accept pots of about £30,000 and will not charge for the set-up or moving of funds.
The product has a minimum annual management charge of 0.8% and will offer a selection of five risk-related portfolios.
JFM said it launched the product in response to the government's pension freedom reforms, which have allowed all retirees to access drawdown for the first time.
JFM managing director David Hughes said he thought it "essential" to give people with smaller pots access to simple and low-cost solutions.