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Guide to Sipp Charges

    CPD
    Approx.60min

    Introduction

    Charges can be made based upon a percentage of assets held within the Sipp, set fees for the various services provided as either flat, time-costed or percentage-based rates, or a combination of both.

    This guide explores the various costs Sipp investors can face, how charges differ between platforms and pension providers, what fee structure suits what type of investor, plus what part charges should play when an adviser recommends a self-invested personal pension provider.

    Supporting materialwas provided by: Gregory Kingston, head of marketing and proposition of Suffolk Life; Robert Graves, head of pensions technical services at Rowanmoor Group; Neil MacGillivray, head of technical support unit of James Hay; Martin Tilley, director of technical services at Dentons; and Claire Trott, head of technical support at Talbot & Muir.

    In this guide

    CPD
    Approx.60min

    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. Which of the below is NOT on the standard assets list for Sipps capital adequacy?

    2. What does Mr Kingston expect the FCA to have made a ‘mental note’ to look at?

    3. What will happen once the FCA introduces the new capital adequacy regime for Sipp providers, according to Mr Kingston?

    4. What type of Sipp provider should clients who wish to invest in the higher risk non-regulated type assets consider, according to Mr Graves?

    5. What is the issue with cash accounts, according to Mr Tilley?

    6. Which type of Sipp charge favours investors with smaller fund sizes, according to Mr Kingston?

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