SIPP fees could shoot up 30% under cap ad rules, provider warns

Liberty SIPP suggested clients could see their fees go up by about 28% when capital adequacy rule changes come into force in September 2016. The regulator announced its finalised capital adequacy rules on Monday, moving certain assets out of the 'standard asset' category and saying SIPP operators will have to hold a minimum of £20,000 in capital. Liberty said a SIPP provider with £1.5bn of assets under administration (AUA) from 10,000 members - 25% of which are classed as non-standard - will see its capital adequacy requirement increase from £350,000 to £1.74m. This means the provi...