Nine reasons to recommend IPM to your clients (and four when you shouldn’t)

We believe it’s important you know which of your clients we might be right for, as well as the reasons why you should consider recommending us. It’s equally important you understand the occasions we might not be the ideal choice for your clients.

This article is designed to explain those two things. We promise it isn’t a sales pitch, just an honest, fair and balanced explanation of the reasons why you might select us. At the end, we’ll also explain some of the reasons we might not be right for your client.

Reasons to recommend IPM

1. A flat fee structure

We believe in keeping things simple. Nowhere is that evidenced more clearly than in our fee structure; it’s flat and easy to understand.

We charge an annual administration fee of £540+VAT. We do not additional charge fees to:

• Establish a SIPP
• Transfer pensions in (including most in-specie transfers)
• Make contributions
• Make non-property related, standard investments
• Move money to and from the trustee bank account
• Deal with routine enquiries made by phone or email

Furthermore, our flat fee structure makes us extremely cost-effective compared to providers who calculate charges based on the value of the SIPP.

2. Stable and secure

Transferring to an alternative SIPP provider is costly and time-consuming for both you and your client. The more stable and secure the provider you choose, the less likely it is you will need to alter your recommendation.

Stability and security are achieved through financial prudence and a cautious approach to new business. We believe we tick both boxes.

1. We are profitable, with a healthy balance sheet, and hold approximately 173% of the minimum amount of regulatory capital required. It’s all in Tier 1 capital too. In other words, Cash. That means we continue to offer a cost-effective, flat fee, charging structure.
2. Over the years we’ve grown organically, shunning the overtures of non-regulated introducers and being cautious about the assets we allow members to hold. That approach means our members, and the advisers who recommend us, don’t need to be concerned about the issues which have affected some other SIPP providers.

3. Investment flexibility

SIPP members expect investment flexibility and that’s exactly what we provide.

We take a sensible and pragmatic approach assessing all investments on their merits. We’ll always carefully consider requests for investment into non-standard assets. Our assessment process considers the investment itself and associated counterparties. We also consider the client’s SIPP and wider circumstances, in conjunction with their regulated financial adviser, before making a final decision.

4. A sensible approach to deposit accounts

Many members, especially those in retirement or with larger funds, often want to hold money on deposit. This can often necessitate the use of multiple deposit accounts.

We place no restrictions on the type of account which can be opened, or the regulated institutions a member can use.

Furthermore, we do not increase our annual fee where a member opens multiple deposit accounts. It remains at £540 plus VAT per year, irrespective of the number of deposit accounts held.

5. Property specialists

Over the years we’ve become experts in purchasing commercial property and land through SIPPs. Indeed, a large proportion of the SIPPs we administer directly own property.

Unlike many other providers, we don’t charge an additional annual fee when a property is owned. Furthermore, group property purchases incur no additional fees either.

6. Our independent ownership

We are privately owned, which means we don’t experience pressure from external investors to hit revenue or growth targets. That means we make decisions on what’s right for members, advisers and our business in the long-term.

7. Highly rated

We’ve now held a Five-Star Moneyfacts rating for the last three years (2017, 2018 and 2019).

Moneyfacts is the UK’s leading provider of financial data and their Star Ratings are an impartial annual assessment of the technical merits of SIPP providers. Their assessment is made following detailed analysis of up to 50 different factors including the charges, investment flexibility and feedback from the industry. In a time of change for the SIPP market, this independent assessment and Five Star rating gives further confidence to advisers and clients when selecting us.

8. Experience and expertise

We are self-invested pension specialists; it’s all we do. Over the past 30 years there isn’t much we haven’t seen. We use that experience and expertise to help you and your clients get the right outcomes from their SIPP.

Put us to the test. Next time you have a technically challenging case, or a complex set of circumstances, get in touch, we’ll be happy to help.

9. A personal approach

You won’t find large call centres at our offices, or a sales team trying to persuade you to place your business with us. You will find though, an experienced and dedicated team to answer your technical questions, help with complex queries and go the extra mile to build an enduring relationship with advisers.

When shouldn’t you recommend IPM?

There are times when recommending us won’t be the right option, or even possible. In-keeping with our transparent approach to all things, we want you to know when that might be the case. Here are some examples:

1. If you are a non-regulated introducer. We will not accept introductions from non-regulated introducers; we only work with regulated advisers.
2. If your client has a very small fund, which makes our flat fee uncompetitive.
3. If your client wants to buy property overseas.
4. If you or your client requires a low-cost online SIPP.

We hope you will agree that there are many compelling reasons why you should consider recommending us to your clients. If you have specific cases you would like to discuss or have a technical SIPP question you would like us to help with, please don’t hesitate to get in touch. Simply pick up the phone or drop us an email.

We’d love to hear from you.