Winterthur Life is predicting a huge increase in the number of Sipps being sold by intermediaries ...
Winterthur Life is predicting a huge increase in the number of Sipps being sold by intermediaries in the wake of depolarisation.
Speaking at Winterthur Life's Pension roadshow last month, Mike Kellard, sales and marketing director, said he believed that the effects of CP121 and depolarisation would lead to huge growth in the market.
He added: 'Sipps have seen growth of 30% year-on-year over the past few years and that level of interest is reflected in both the regional and the national consumer media.
'The current uncertainties in the market place are leading people to want more control over their investments and Sipps do just that.'
Kellard said that growth in Sipps is also occurring due to financially aware investors having a fund size suitable for this type of investment and recognising that they could benefit from it.
Sipps were launched in the UK in 1989 but Kellard said that whereas they were once seen as only being available to higher net worth individuals, they are now being viewed as a genuine alternative to occupational, stakeholder or personal pensions.
Winterthur launched its first Sipp in 1990, and has used its roadshows to promote its Universal Sipp, which launched in March this year.
The company, with its subsidiary Personal Pension Management Ltd, manages around 35% of Sipps in force in the UK.
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An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client