SIPP Providers in the UK
SIPP
providers will usually impose both a set up charge and an annual administration fee. A typical
set up fee would be between £250 and £350 and a typical yearly administration charge would be between £400 and
£500. The extent of such charges can however vary between both providers and the size of the individual's
initial investment or fund
value.
Investors feel safer with
investments that have been approved for SIPPs as they know that SIPP providers perform extensive compliance work,
to ensure themselves of the conformity of the investment. The SIPP Trustees themselves are responsible for ensuring
that the investments they make conform to Government regulations.
SIPPs (Self-invested personal pensions) have
widened their appeal following the introduction of an online management option
that reduces the traditionally high charges for managing the scheme. In the last 5 years there has been a
significant growth in SIPP providers with more than 40 companies now offering some form of self
invested pension option. The choice of SIPP provider however is probably more confusing than ever
with complex charging structures, limitations on types of investment and online platforms that range from the very
limited to the very advanced.
Sipps with their wide range of permitted investments
allows for asset allocation and risk profile strategies to be far more channelled towards a client's personal
circumstances. They also offer an element of control that many clients feel is missing from their financial
plans.
SIPP Providers
UK
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