SIPP provider Curtis Banks is waiving its fee on in-specie commercial property transfers into its Your Future SIPP for the rest of the year.

The move will save clients more than £800 and the provider hopes it will encourage clients who may feel 'trapped' with their current provider.

The SIPP provider is also aligning its annual SIPP fee and the annual property management fee to match any client’s previous provider when transferring to Curtis Banks to ensure that clients do not pay twice.

Charles Dewey, head of sales at Curtis Banks, said: “When SIPPs were first announced back in 1989, it provided unprecedented investment flexibility. This flexibility remains today and, in particular, investing in commercial property.”        

But he said the management of the property was very important and advisers often find clients with providers that do not have the experience and expertise to undertake this work.

“This is great for those just investing in property, but many clients can feel that they are trapped with their current provider. But they are able to transfer from one SIPP provider to another via an in-specie transfer,” he said.

To make the transfer more attractive, the SIPP provider is waiving the fee on in-specie commercial property transfers into Your Future SIPP until the end of 2022.

“As one of the largest property landlords in Europe, we have experts that can help advisers and their clients, providing high levels of service and administration excellence,” said Mr Dewey.

Curtis Banks has administered SIPPs and SSASs since 2009 and has since grown to be one of the UK’s largest independent SIPP and SSAS providers, looking after more than 78,000 clients.