Most advisers foresee further SIPPs consolidation

A new poll has revealed a majority of advisers foresee further consolidation in the SIPPs market. The discovery was made at the recent Sheffield Life and Pensions Society CPD event on 22 January, where an audience of more than 70 advisers were asked if they expected further consolidation in the SIPP market. The vast majority said that they did with around 80% expecting there to be continued growth in the sector.Stephen McPhillips, technical sales director at SIPPs and SSAS specialist Dentons Pension Management spoke at the event held at the AMP Technology Centre in Rotherham. It covered DB transfers and self invested pensions. Mr McPhillips’ session covered the structural and legal differences between SSAS and SIPP, investment differences between the two and provided practical examples of where properties can be held and how self invested products can aid exit planning.He said: “The Sheffield Life & Pensions Society is one of the most active and vibrant local life and pensions societies in the country and people travelled from far and wide to attend this event. “It was reassuring to see that advisers still believe that the self invested market is growing but they are being even more diligent on the providers they partner with. This is particularly true for the SIPP market where they anticipate continued consolidation.” Patrick Seal, deputy president, Insurance Institute of Sheffield, Sheffield Life and Pensions Society, said: “As a local life and pensions society we pride ourselves on the high quality events that we construct for our members. “Without the involvement of firms such as Dentons, we wouldn't be able to provide the educational, guidance and networking for our members.”

Most advisers foresee further SIPPs consolidation

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