Goji scraps plans for automated SIPP capability
Goji has abandoned its plans to add an automated self-invested personal pension (SIPP) capability to its technology offering.
In May, the alternative investment platform technology provider said it was working on launching a white label SIPP capability in the third quarter.
At the time Goji said it was to give platforms, approved by a SIPP trustee, the ability to offer their investors the opportunity to invest via a SIPP directly through the Goji platform, without the need to complete separate paperwork.
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However, David Genn, chief executive of Goji, said the platform has scrapped the plans to focus on looking after its customers and onboarding a number of peer-to-peer lending platforms.
Goji continues to accept SIPP investments from other companies, rather than providing the planned dedicated SIPP account itself, he added.
“Investors can open a SIPP with a SIPP provider and use that SIPP with P2P lenders – our platform technology can allow them to do that, but we don’t have the dedicated capability to allow investors to open it on our platform,” Genn told Peer2Peer Finance News.
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“We’re working with a number of our platforms to allow them to onboard SIPP investments from SIPP providers that let them include P2P investments.
“There are quite a few P2P lending platforms that want to allow investors to invest via a SIPP and that’s good for platforms as they can attract long-term capital.
“And it gives investors more flexibility to be able to invest not just via an Innovative Finance ISA, but through a SIPP as well.”
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