So, what is a “Grown up” SIPP?
One where the SIPP member:
- is a co-trustee and co-signatory on all investments
- isn’t pushed towards specific investments
- isn’t limited to only a small number of investments
- is free to choose any stockbroker / online trading platform
- is able to have more than one bank account for cash deposits
- can make in-specie contributions
- isn’t charged for making personal pension contributions
- isn’t charged when they decide to take a pension
One where an IFA:
- can gain access to technical advice which helps find solutions rather than fills in a tick box
- can be safe in the knowledge that their clients won’t be offered other promotions direct from the SIPP provider without their knowledge
- can get sales support, seminar support and assistance with client meetings from the SIPP provider
- can develop products for their clients to fit within SIPP parameters
- can get access to exclusive products where the SIPP provider has been appointed sole SIPP provider for an investment opportunity
One Where the SIPP provider:
- doesn’t limit the investment parameters other than those laid down by HMRC
- publishes their schedule of fees on their website
- doesn’t take commission from any member investments
- doesn’t take a percentage of the interest earned on members cash deposits
- doesn’t shadow charge for any stock/share investments made with a stockbroker
For more information on Protected Rights investment, download our free Protected Rights guide