Rise of the vanilla SIPP

VANILLA SIPP

clock

Appetite for third party SIPPs is plummeting, say platforms. Does this mean SIPP providers will be squeezed out of the market altogether?

It was a decision that was supposed to revolutionise adviser choice. “We were probably unique in the way we addressed the SIPP market,” said Hugo Thorman, managing director of wrap platform Ascentric, “unique in the way that we didn’t have one”. Instead, the group allowed advisers to write business with third party SIPP providers, who sprung up following ‘A-Day’ in 2006, when a change in regulation meant anyone could effectively become a provider as long as they gained Financial Services Authority (FSA) approval. But that didn’t work out like most expected. Ascentric launched its o...

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

Women's pensions: Why the gender savings gap opens at age 28

Women's pensions: Why the gender savings gap opens at age 28

Women in their late 50s hold 48% less in their pension than men

Rachel Vahey
clock 11 June 2026 • 3 min read
DC pension pot growth points to increased fraud risk, pensions minister warns

DC pension pot growth points to increased fraud risk, pensions minister warns

Torsten Bell says expanding DC pots will attract increased fraudster attention

Martin Richmond
clock 11 June 2026 • 2 min read
Revised transfer regs widely backed but industry calls for 'clear and practical' guidance

Revised transfer regs widely backed but industry calls for 'clear and practical' guidance

DWP makes key changes to traffic-light transfer conditions

Jonathan Stapleton
clock 10 June 2026 • 7 min read