Comment and Blogs
I was at my daughter’s birthday party last Sunday afternoon doing that bit where you hang around while all the kids have fun.
The release of further clarification from the FCA on Sipp capital adequacy rules brings with it my return to the blogosphere. My initial reaction was not one of relief that some issues had been resolved.
And so as the dust settles on April’s seismic changes to the pensions regime what can the Sipp market expect from a new Government and new Pensions Minister.
Back in 2001 - when we almost succeeded with a MBO of the Sipp provider I was running (Personal Pension Management Ltd long since defunct) – I was questioned by the VC who was backing us about the sustainability of the interest “turn” that we derived from the pooling of bank accounts.
I guess by now I shouldn’t be surprised at anything that emerges from the regulator on the subject of Sipps. There have been numerous well documented failures in the advice regime governing Sipps that it’s hard to believe that worse could follow.
Earlier this week I spoke at a TISA seminar on Mastertrusts. I was a bit of an interloper – Mastertrusts are certainly not my specialist subject – but I was asked to talk about lessons to be learnt from the Sipp market.