IPM secures AKG rating, including five-star rating for service

For many years, IPM has been used to advisers contacting us to find out more about our company and our SIPP.

The guises this has taken have varied, with some firms taking the responsibility on themselves to dig deep into our company structure and financials, while other firms have employed the services of third-party specialists to undertake research on their behalf.

We have previously spoken about the importance of undertaking due diligence on SIPP providers and asking questions of your chosen provider.

We have always been an open book with our advisers. We have no issues talking about our client numbers, assets within the Scheme, company structure, succession planning, future ambitions for the company, and our financials.

Some years back, we formalised the most common questions into our due diligence pack that we issue to advisers upon request while continuing to complete various questionnaires that are sent our way.

Most advisers will likely agree that Consumer Duty has underscored what the FCA expects adviser firms to know about the providers they are recommending to clients. In the last eighteen months, we have seen an increase in the frequency of the requests we receive alongside a rise in the threshold for advisers when carrying out their research.

The feedback we have received from advisers in the run-up to and post-Consumer Duty is that the sheer volume of research they need to undertake on all providers they recommend across the advice spectrum means they need this to be simplified as much as they can – both initially and on an ongoing basis.

Third-party accreditation becoming increasingly important with advisers and planners

For the last eight years, the IPM SIPP has received a five-star rating from Moneyfacts – something we are proud of. We also score highly with other rating agencies.

However, some advisers and planners have suggested to us that the Moneyfacts rating did not go far enough. While advisers were comfortable with IPM both in terms of an organisation and the service we provide, it has been clear that third-party, independent accreditation is becoming increasingly important.

One research firm kept on coming up in our discussions with advisers and planners. In fact, 64% of advisers who completed our 2024 adviser survey said they were more likely to recommend IPM if we were to have an AKG rating.

AKG has specialised in the provision of assessment, ratings and market assistance for the wider financial service sector for more than 30 years. You can read more here about how firms are assessed and a summary of the rating process.

Before the results of our adviser survey, IPM had begun speaking with AKG to understand what their assessment covers and where this would be beneficial to our advisers.

It was gratifying to see the results of the adviser survey agreed that an AKG rating would be valuable to our advisers and make it easier for them to recommend IPM.

The assessment was completed in September 2024, and we are pleased to have received a B- Satisfactory rating, which includes a five-star rating for the service IPM provides to our advisers and clients.

If you would like to receive a copy of our AKG report you can request this here along with a copy of our most recent due diligence pack.

Get in touch

If you have any questions about our ratings, or if you have any clients for whom SIPP or SSAS advice would be beneficial, please get in touch.

Email info@ipm-pensions.co.uk or call 01438 747151.