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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

Gibraltar Tax Treaty Offers Clarity and Landmark Recognition

WallAs reported in our Big Deal blog, the UK and Spain have a tax treaty agreement for Gibraltar and Spain. This 2019 treaty is designed to clarify a number of important issues, including the long-standing, contentious issues of tax disputes and tax residency.

Furthermore, the Treaty resolves the issue of Gibraltar’s ongoing consistency with EU law following Brexit as the British Overseas Territory has elected to retain legislation equivalent to EU law on all matters related to financial transparency, taxation, administration and Anti-Money Laundering.

Read More

Retiring to France – What you need to know

ParisIt’s no surprise that France is a popular destination choice for British expats looking to spend their retirement years overseas. From its beautiful pastoral landscapes to its quaint cobblestoned streets, settling into a new life in France is like living in a Claude Monet painting.

The lure of this picturesque setting is too much for many retirees to resist. If you are considering joining your fellow expatriates, then there are a few things you should consider.

Read More

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