Preparing the SIPP market for take-off

At the Association of Member-Directed Pension Schemes' annual meeting in October, Suffolk Life's product and market director Chris Jones buoyed hope for sustained growth in the sector by estimating by 2013 there would be one million SIPPs. Running alongside such positive news, SIPP providers met uncertainty over a number of issues. There were tough debates over capital adequacy limits and renewed concerns that platforms could displace SIPPs. Meanwhile, the FSA called for a review of providers' due-diligence approaches to UCIS and a further consultation on disclosure requirements. In l...