Independent financial advisers (IFAs) must consider the sustainability of a self-invested personal pension (SIPP) provider and not put too much emphasis on short-term factors such as fees, Dentons has said.
In research carried out by the SIPP provider, IFAs ranked provider profitability and financial strength as low down on their priority list suggesting capital adequacy is not yet a key concern for them. Dentons collated responses from IFAs, including wealth managers and a mixture of larger and smaller adviser firms, and SIPP provider professionals. Respondents were asked to rank 11 criteria for choosing a SIPP provider in order of importance to them, one being the most important and 11 the least. The two most important factors for intermediaries were a provider's fee schedule, ranke...
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