Platform paper PS13/1: The end of the 'free' SIPP?

clock

Fiona Murphy asks what the new paper on platforms could mean for SIPP operators

New Financial Conduct Authority (FCA) paper PS13/1 Payments to platform service providers and cash rebates from providers to consumers has transformed the way platforms are paid, and could have stark consequences for the SIPP market. Previously investment managers had paid a rebate from the annual management charge received to the platform. As a result many platforms appeared to offer a ‘free service’, leaving it difficult for investors to compare products and charges across the market. This could lead to better outcomes for providers paying such rebates to the platform, as they would...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pension freedoms exposed a longevity problem we still refuse to confront

Pension freedoms exposed a longevity problem we still refuse to confront

'The gap between product complexity and consumer understanding is not narrowing'

Julia Fintz
clock 11 March 2026 • 4 min read
Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Administration expected to conclude in 2027

Isabel Baxter
clock 10 March 2026 • 3 min read
Majority of self-employed women fail to assess maternity leave/retirement impact

Majority of self-employed women fail to assess maternity leave/retirement impact

Just 18% said they had completed detailed planning on mat leave financial impact

Jenna Brown
clock 09 March 2026 • 2 min read