Platform participation in SIPP market to increase

The business software provider says wrap platforms are already well placed to enter the SIPP market, and believes more will do so in the near future. Last month, Ascentric launched a low cost SIPP through its platform, and Novia also recently launched a Group SIPP to the UK market. Chris Read, chairman of Dunstan Thomas, says wrap companies are getting into SIPPs and believes they will start to displace some SIPP firms. "It's very easy for wrap providers to start offering their own SIPP," says Read. "All they need to do is hire a consultant to provide FSA registration and compliances...