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SIPP Providers – Getting it Right

The judgment reached by the FOS in the Berkeley Burke case was significant because it placed a clear emphasis on the duty of care SIPP providers owe their clients to properly vet unregulated investments.

What Makes for a Reliable SIPP Provider?

In light of the Berkeley Burke ruling and the latest FOI revelation, any person who is considering the question of whether a Self-Invested Personal Plan might be suitable for them should run through a checklist of important questions including the following:

  • Does the SIPP provider have suitable professional indemnity insurance?
  • Who is providing the indemnity cover and can it be relied upon?
  • Does the cover come with any limits and exclusions?
  • What is the level of excess provided by the cover?
  • Have you received appropriate, independent advice regarding your suitability for a SIPP transfer?
  • Has your advice resulted in a positive recommendation – i.e. you have been told that a SIPP is in your best interests?
  • Is a SIPP compatible with your cashflow needs?
  • Is a SIPP compatible with your legacy plans – i.e. the future needs of your spouse and/or descendants?
  • Are you a sufficiently sophisticated investor to understand the implications of a SIPP?

SIPPs Planning with Blacktower FM

Blacktower FM firmly believes that an investment plan should be designed to meet your particular goals, cash flow needs, time horizon and risk tolerance.

We are committed to ensuring that our clients with international pensions receive independent advice and that they develop a diversified portfolio of assets and regulated products offering long-term and tax-efficient solutions to their particular cross-border financial concerns.

For more information about how we may be able to help you protect and grow your wealth for retirement and the legacy you will leave behind you, contact your local Blacktower office today.

 

* https://www.moneymarketing.co.uk – Accessed 02-05-19

Other News

Sensible SIPP Management

Thought bubbleSIPPs (Self-Invested Personal Pensions) are a flexible retirement saving vehicle, offering choice, freedom and investment opportunity.

However, as it is by definition, self-invested, a SIPP also brings with it certain amount of responsibility. Of course, the burden can to some extent be minimised if you have a financial adviser or wealth manager to act on your behalf, but even if you take advice, there may still be an element of DIY investment to your SIPP.

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NEWS WRAP – Eco Investment Scammers Given Prison Sentences

The Old BaileyIncreasing numbers of investors are motivated to put their money into ethically and ecologically minded investments. This is undoubtedly an admirable aim, however, investors who fail to take adequate international financial advice risk becoming vulnerable to scammers looking to prey on their good intentions.

This fact has recently been underlined with the conviction and sentencing of five men for their operation of a multi-million pound fraudulent eco-investment scheme; a scheme which has been described by HM Revenue & Customs as one of the largest of its kind to be carried out in the UK.

Read More

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