Premier Pension Services (PPS) recently completed a survey of Independent Financial Advisers (IFAs) that they deal with, in order to seek their views on the key drivers in the selection of a Self Invested Personal Pension (SIPP) provider.
“It was very interesting to find that in the ‘real’ SIPP market price is not the determining factor. Where the IFA recommends a SIPP provider they overwhelming want to be reassured that they and their client will get the service levels they need,” says Nigl Manley, head of Self-Invested Pensions, PPS.
“The ‘real’ SIPP client will be an important high net worth client of the IFA where service delivery is far more important than price. The client who ‘knows the price of everything but the value of nothing’ should not fit this category and is probably in the wrong product,” adds Manley.
“Our survey revealed the acceptance of the value of service matched only by the need for the SIPP provider to offer flexibility in support of the member investment decisions. Flexibility and service must be linked and then for the ‘real’ SIPP client and their advisers we have the winning combination,” he concludes.