Should SIPP investors be worried about the effects of low interest rates on the financial position of providers?

Mary Stewart, Hornbuckle Mitchell:    "SIPP investors should be aware of how reliant a provider is on income from bank interest rates - some earn as much as a quarter of their turnover from money earned on client bank accounts. The higher the percentage, the more likely it is that in a low interest rate environment the provider will have to raise other fees to compensate. This margin is undoubtedly being squeezed and the providers who have been greediest in the past will be feeling the pinch now. As part of their due diligence, advisers should look for a SIPP provider with a transparent app...