Hornbuckle Mitchell SIPP: What's Unique About It?

Hornbuckle Mitchell offers a flexible SIPP with a wide range of investment options and bespoke solutions for complex investment strategies. Their emphasis on personalization and professional advice stands out.
  • Last Updated: 22 Mar 2024
  • Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

Contributors:

Francis Hui
What Options Are Available to Investors? Are Your Pension Savings Safe? Find Out Here…
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Key Takeaways
  • A Hornbuckle Mitchell SIPP is a self-invested personal pension.
  • They allow you to choose and manage your own investments.
  • The fees associated depend on the specific plan and investment choices you make.
  • You can transfer your existing pension into a Hornbuckle Mitchell SIPP, subject to certain conditions.
  • You have a wide range of investment options, including stocks, bonds, funds, and commercial property.

If you have been reading up about your pensions savings options, you may have come across the Hornbuckle Mitchell SIPP.

As the name suggests, a SIPP, or Self-Invested Personal Pension, puts you in the driver’s seat when it comes to your retirement savings.

This means you will be able to choose your investments and how they are managed.

But is the Hornbuckle Mitchell option still available to investors today?

In This Article, You Will Discover:

    In this article, the Every Investor team will highlight the fundamental aspects of the Hornbuckle Mitchell SIPP to illustrate the benefits, eligibility criteria, and features of a Self-Invested Personal Pension product. 

    Read on to find out more.

    Who Is Hornbuckle Mitchell?

    Hornbuckle Mitchell is a UK-based provider of self-invested pension solutions, including SIPPs (Self-Invested Personal Pensions).

    The company specializes in pension administration, offering a platform that allows individuals to have greater autonomy in managing their pension investments.

    Hornbuckle Mitchell is recognized for its role in the pension industry, providing services to individuals and businesses.

    It’s important to check for the latest information about Hornbuckle Mitchell, as details about companies may evolve over time.

    What Is a SIPP?

    The Self-Invested Personal Pension (SIPP) is a pension scheme offered in the UK, designed to give individuals enhanced oversight and adaptability with their retirement savings.

    This personal pension plan enables the selection and governance of various investment types, including equities, bonds, and real estate, within the pension portfolio.

    What Are the Benefits of a Hornbuckle Mitchell SIPP?

    A Hornbuckle Mitchell SIPP offers several benefits for individuals looking to save for retirement.

    Firstly, it provides a tax-efficient way to save for retirement, as contributions are eligible for tax relief.

    This means that individuals can receive tax relief on their contributions, which helps to boost their pension savings.

    Additionally, a Hornbuckle Mitchell SIPP offers flexibility in terms of investment options.

    Individuals can choose from a wide range of investments, including stocks, bonds, and property, giving them the freedom to tailor their pension savings to their specific financial goals.

    With a Hornbuckle Mitchell SIPP, individuals can also benefit from the ability to consolidate multiple pension schemes into one, making it easier to manage their retirement savings and potentially reducing administrative fees.

    What is The Hornbuckle Mitchell SIPP?

    The Hornbuckle Mitchell SIPP provider was a personal pension plan aimed at helping you save and invest funds for retirement. 

    While existing clients are still serviced, new applications will not be accepted for this product.1

    Brief History & Overview

    Hornbuckle Mitchell was established in 1982 by David White and Richard Hornbuckle. 

    Initially, the company specialised in advice, but soon recognised its core strength in administration services.2

    In 1997, Hornbuckle entered the Self-Invested Personal Pension (SIPP) market, focusing on developing SIPPs and Small Self-Administered Scheme (SSAS) solutions for advised clients.3

    Hornbuckle sold 60% of its business to two private investors, Phil Smith, and Richard Wohanka, in 2013, and the company was eventually rebranded as the Embark Group.4

    Embark became part of Lloyds Banking Group in a £390 million deal in 2021.5

    Key Players in Hornbuckle Mitchell’s Development

    Jackie Leiper6 was named the new CEO of Embark when the Lloyds deal was concluded.

    Leiper had joined Lloyds in 2010 and replaced Phil Smith,7 one of the founders of the Embark Group.

    Current Market Position

    Hornbuckle Mitchell SIPPs are closed to new business because Embark is streamlining all its SIPP products into one unified brand, Embark Pensions.8 

    This consolidation brings together Embark Services Ltd, known in the market as Hornbuckle, and EBS Pensions Ltd, under a single trading umbrella.9

    Existing Hornbuckle Mitchell clients continue to be serviced.

    How Do You Compare Hornbuckle Mitchell’s SIPP Offering With Competitors?

    Comparing Hornbuckle Mitchell’s SIPP offering with competitors is difficult because the product is no longer open for new business.

    If you are in the market for a SIPP, it is important to research and compare providers based on your individual investment goals and preferences, and your specific requirements to determine which one aligns best with your needs.

    Here is a summary of what some of the other SIPP providers offer.

    AJ Bell

    AJ Bell maintains it was the first to bring an online SIPP to the UK market.

    It has one of the lowest percentage-based platform fees at 0,25% of your plan’s value; however, this can become expensive if you have a large pension pot.10

    Hargreaves Lansdown

    Noted for its extensive investment research, Hargreaves Lansdown offers a user-friendly platform and a broad range of investment products. 

    Hargreaves Lansdown does not charge to set up a SIPP, and the annual holding fee never exceeds 0,45%.11

    Curtis Banks

    Curtis Banks has a large commercial property portfolio and its Your Future SIPP is targeted at high-net-worth individuals with a pension pot of at least £250,000.12

    The administrative fee for a Your Future SIPP is £352 a year, provided you use Curtis Banks’ investment partners and/or one deposit account.13

    Interactive Investor

    Known for its extensive investment research tools and educational resources, Interactive Investor offers a wide range of investment options, including funds, shares, and investment trusts, along with competitive pricing structures.

    Charges start at a flat fee of £12,99 for new Pension Builder customers.14

    Who Is Hornbuckle Mitchell’s SIPP Product Best Suited to?

    Hornbuckle Mitchell’s SIPP is not open to new business, and new clients are directed to the Embark SIPP instead.15

    How To Contact Customer Service & Support?

    Customer service and support encompasses the varied contact channels available, the efficiency reflected in response times, and the firsthand experiences captured in client reviews and testimonials.

    Contact Channels

    Contact channels available to Hornbuckle Mitchell customers are phone, email, and via an online contact form.16

    Response Times

    Response times can be immediate during business hours on weekdays as each page of the Embark Platform has a live chat function.17

    Client Reviews & Testimonials

    Hornbuckle Mitchell’s parent company, Embark, faced criticism for service levels in a Money Marketing article in 2022.18

    According to an FT Adviser article in November 2022, Embark was reported to have the highest upheld Financial Ombudsman Service cases among investment platforms.19

    What is Regulatory Compliance & Protection?

    Regulatory compliance and protection offered to Hornbuckle Mitchell fall under the FCA, FSCS, and data management measures.

    Regulation

    Embark Services Limited (registration no.120820) is authorised and regulated by the Financial Conduct Authority.20

    Financial Services Compensation Scheme (FSCS) Protection

    The Financial Services Compensation Scheme (FSCS)21 offers limited compensation to customers in cases where a UK-regulated company, supervised by the Financial Conduct Authority (FCA), is unable to fulfil claims. 

    Investments within your plan may be eligible for FSCS coverage, and if compensation is applicable, Hornbuckle Mitchell will handle the claim process on your behalf.22

    Data Security Measures

    Under UK Data Protection legislation and regulation, Embark Services Limited serves as the data controller for the Hornbuckle Mitchell SIPP.23

    Common Questions

    Key Features of Hornbuckle Mitchell SIPP

    Hornbuckle Mitchell SIPP Fees Compared to Competitors

    Transferring Existing Pensions into a Hornbuckle Mitchell SIPP

    Investment Options Provided by Hornbuckle Mitchell SIPP

    Why Investors Should Consider Hornbuckle Mitchell SIPP

    What Types of Investments Can I Make with a Hornbuckle Mitchell SIPP

    How Flexible Are Withdrawals from a Hornbuckle Mitchell SIPP

    What Are the Tax Implications of Investing in a Hornbuckle Mitchell SIPP

    How Can I Manage My Hornbuckle Mitchell SIPP Online

    Is There a Mobile App for Hornbuckle Mitchell's SIPP Management

    How Does Hornbuckle Mitchell's Customer Service Perform

    How Secure Is My Investment With Hornbuckle Mitchell's SIPP

    What Protection Does Hornbuckle Mitchell Offer for My SIPP

    Can I Transfer My Existing SIPP to Hornbuckle Mitchell

    Can I Take Out Money from My Hornbuckle Mitchell SIPP Before Retirement

    In Conclusion

    Over the years, Hornbuckle Mitchell made significant strides in the SIPP market. 

    However, the company is not taking new clients, and the brand will eventually be incorporated into that of its parent company, Embark.

    This change underscores the evolution of the retirement product industry, and the Hornbuckle Mitchell SIPP’s enduring legacy is now intertwined with the broader Embark narrative.

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