I have some concerns around the market at the moment. We are coming off the back of a significant market downturn which has seen SIPP business (which is primarily driven by consolidation / transfers) suffer as a result.
Added to this we have extra regulatory scrutiny around pension transfers and most recently the small SIPP operators review. There is enough bad news here for people to start expressing concerns about the SIPP market. The reality I think is somewhat different. As some of the learnings from this start to permeate the market and SIPPs become more transparent, people will develop greater trust in these products. Access to information using technology will also increase uptake. Of course, the recent market rallies will help. There is no getting away from the retirement savings gap that exists and SIPPs are well placed to play a significant role.
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