View more on these topics

Regulation set to boost Sipp sales

More than eight out of 10 of advisers believe the introduction of Sipp regulation next April will make the market more attractive.

A survey by Skandia, which interviewed 465 advisers, found that 83 per cent expect the onset of regulation to bring a boost to the self-invested personal pension market.

Skandia also asked advisers what features they consider important when choosing a Sipp, with investment choice being ranked as very important by 64 per cent of advisers.

Pensions marketing manager Nick Bladen says the results provide a strong indication that advisers will drive more business through Sipps after regulation starts.

He says a key benefit of Sipp regulation will be the new disclosure rules which will enable advisers to more accurately compare Sipps with other products on the market. He says while charges for the sale of the Sipp wrapper itself are transparent, the charges for the underlying investments in the Sipp are often opaque.

Bladen says: “Regulation must allow advisers to compare products across the whole market. That way, comparisons will be truly fair and advisers will be in a position to give the most appropriate advice for their clients.”

Andy Bell, managing director of AJ Bell and Sippdeal, which carries out administration for the Skandia Sipp, says: “Regulation will bring Sipps in line with the rest of the pension marketplace. Over the next nine months, as advisers and providers, we now need to concentrate on making sure we are ready to adapt to the new regulated world.”

Recommended

Change slows for mature market

The buy-to-let market is unlikely to see any significant future innovation because it is mature and has already undergone its metamorphosis.Brokers and lenders agree that the market remains buoyant and is not desperate for any new types of products or major changes.It is also doubtful if many new lenders will enter the sector as it […]

Swiss Re to axe 2,000 jobs

Swiss Re is to cut 2,000 jobs by the end of 2007 as part of its continuing integration of GE Insurance Solutions to the business.The reinsurer announced the staffing reductions today and said a large number of losses would be through “natural attrition”.Swiss Re completed the acquisition of General Electric’s insurance arm for £3.5bn in […]

Pension warning on life expectancy

Pension schemes could be left with tens of millions of pounds of unforeseen liabilities if they underestimate life expectancy among their members, says the Pensions Regulator. In a speech to the UK Pensions and Investment Summit in Brighton, chairman David Norgrove said trustees and their advisers should review their assumptions about life expectancy to ensure […]

SimplyBiz host IHT webcast

SimplyBiz and Zurich Intermediary Group are co-hosting a webcast by Technical Connections director Tony Wickenden to provide an exclusive presentation on post-Budget IHT planning. Technical Connections experts will also be involved in a live chat, held on the SimplyBiz website allowing member firms to ask questions on the presentation. Wickenden will give insights into IHT […]

Investment Forum

Position Portfolios for a Changing China, Accelerating Disruption and More Political Discourse Is China an asset class? Why Investors’ Understanding of China is Changing How is disruption changing the way we invest? Established Ways of Doing Business Are Being Challenged What to Watch: Why politics matters more than ever in 2017 Key takeaways: Despite volatile […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com