Self-invested personal pensions (SIPP) should not buckle under regulatory pressure to become plain vanilla share class wrappers as clients need diversification in their portfolios, Mattioli Woods has said.
Non-standard assets, including more esoteric investments such as property investments and loan finance, have their place in clients' portfolios wherever suitable, sales and marketing director Murray Smith said. Investment innovation should not be stifled by new capital adequacy rules, he added. The Financial Conduct Authority (FCA) published new rules last August, which will ask SIPP providers to calculate the capital buffer they are required to hold in relation to their assets under administration. There will be an additional capital surcharge for firms that administer non-standar...
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