Talbot and Muir has launched a free review service for advisers who have clients with small self-administered schemes (Ssases) to ensure these schemes are meeting the increasingly onerous regulatory requirements.
Claire Trott, head of pensions technical at the independent Ssas and Sipp specialist firm, said that although Ssases were not regulated by the FCA they still had obligations to fulfil to Revenue & Customs and The Pensions Regulator, which could lead to fines and possible de-registration of the scheme if not completed.
She said: “Many providers have shied away from Ssases and focused just on their Sipp proposition, but we have always believed there is a place for a well-run Ssas in the pensions industry.
“Increasingly, we are being approached by advisers to ensure the Ssas schemes they have are well run by the administrators and meet the regulatory requirements.
“That is why we decided to launch a free review service for advisers.”
The initial consultation will be conducted remotely, but a face-to-face consultation may be available if required.
Adviser view
Clayton Cumming, partner with Glasgow-based Advice and Wealth Management Solutions, said: “I don’t deal with a lot of Ssases because of the type of clients I deal with. When they do come up I pass them on to someone I trust.”
