It’s A for alternative investments as A-Day fever gets a grip on the Sipp market.A straw poll of advisers and Sipp administrators reveals a wide variety of enquiries about potential Sipp investments. As well as being asked about putting investments such as stamps, classic cars and fine wine in pension pots, Central Financial Planning has been approached about the Sipp suitability of a portfolio of nude photographs and Marilyn Monroe memorabilia while Suffolk Life has been asked about a collection of 1,200 vintage clocks and military swords. Suffolk is used to dealing with unusual investments, administering Sipps containing a zoo and Walsall Football Club’s Bescot stadium. Chief executive Henry Catchpole says: “We can handle fairly exotic things and people can do it but it is going to cost them.”
The media frenzy over changes to Sipps should not be allowed to distort investment fundamentals, says Philip ScottSipp building
Equitable Life has dropped its 700m claim against its former auditors Ernst & Young.The case collapsed with Equitable agreeing to make a contribution to E&Y’s legal costs.In a letter to policyholders Equitable chairman Vanni Treves says its case, which cost the firm 30m to bring to the High Court, had been fatally undermined by the […]
Standard Life is introducing a select property fund offering global commercial property exposure after its UK property fund got too popular. The firm’s UK property fund is 11 per cent invested in cash, with inflows of 50m a month and Standard is struggling to invest the money in what it describes as a competitive UK […]
Of every 100 you earn, you pay 11 per cent to the Government in National Insurance contributions and a further 22 per cent in income tax, or 40 per cent if you are a higher-rate taxpayer.
Certification is highly complex and surrounded by a minefield of information and auto-enrolment jargon, which can make it very difficult to understand. However, for many employers it is a necessary process that must be executed successfully.
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
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The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]