Report reveals falling SIPP provider profits ahead of cap ad deadline

Its Financial Stability Report, written in conjunction with SIPP industry expert John Moret, said pre-tax profit margins of non-insured SIPP providers dropped from an average 30% in 2012 to 20% in 2015. The in-depth report flagged potential problems for certain providers ahead of the introduction of SIPP capital adequacy rules on 1 September. The report analysed large, mid-sized and small providers operating in the SIPP market and found 13 of the 18 providers who responded - that make up more than 90% of the non-insured bespoke SIPP market - were profitable, while five were loss-makin...