With so many pensions options now available, it’s important to take the time to find out exactly what you can and can’t do with your SIPP. Find out more about why speaking to a SIPP specialist is a good idea for your future.
In this article we’ll discuss:
Where can I find Self-Invested Personal Pension (SIPP) advice?
Specialist advice on SIPPs is available from the pensions experts we work with. They are certified pensions advisors with in-depth knowledge of SIPPs, and they can help you find the product best suited to your retirement needs and personal circumstances if you make an enquiry.
What are SIPP advisors?
The idea behind a SIPP is that it allows you more freedom and options for your pension fund. However, while that can work out very well if you understand financial investments and tax rules, the same isn’t always true if you don’t.
Of course, you can spend time researching and finding more out about SIPPS, to make sure you get the most out of your pension when you set up your own. However, another option is to speak with an advisor about the different services that are available.
The advisors we work with understand all the options that come with a SIPP. They offer a range of services including giving you independent financial advice about which SIPP would work for you and how to plan your pension. They also understand all the different tax rules and will ensure you make the most of the benefits.
Are all advisors independent?
No, they’re not. Some work for the various SIPP providers while others are independent and have knowledge of many SIPP-related details including planning and which provider is right for your needs.
What pension financial advisors have in common is that they should all understand what type of SIPP you need. They can help you choose between:
- A full SIPP.
- A low-cost SIPP.
- A hybrid, or insurance SIPP.
SIPP specialists can provide plenty of pensions insight. Each has its own benefits and all include the HMRC approved SIPP advice and investment options.
Why should I speak with an advisor?
Speaking with SIPP pensions advisors can be helpful, even for the most financially savvy among you. Even if you understand investing and pension tax rules, there are a number of ways a SIPP can be used to make the most of your pension fund and grow it to provide a comfortable retirement.
For those of you with less financial experience, SIPP consultants can explain everything you need to know. Even if you have no knowledge at all about pensions or investing at all, a SIPP advisor can take you through the basics and explain it to you in a way you understand.
To find out more about SIPPs and to speak with a specialist, get in touch with us today. We can connect you with the right advisor to help you find out more about your pension.
What should I look for in an advisor?
As well as having whole-of-market access so they can find you the most appropriate deals, you should look for a SIPP advisor who is regulated by the Financial Conduct Authority (FCA).
With an FCA-regulated advisor on your side, you can rest assured that you will be given the right advice and have full protection against mis-selling, among other things. If you make an enquiry with us, we will make sure you are passed onto an FCA-regulated advisor.
Finally, be mindful of advisors who charge upfront fees. The experts we work with are only paid on success and will only make money if proceed on the advice they offer.
Can an advisor help with my pension planning?
Yes, the SIPP advisors we work with don’t just help you choose the right provider, they can explain the differences between them and why one would be more suitable for your needs than another.
A SIPP advisor has knowledge of what would suit your pension needs now and how that might change in the future. A SIPP advisor will encourage you to look at your long term pension goals and then plan accordingly.
This could include:
- Selecting a provider that will likely suit your needs until retirement.
- Discuss making use of different elements of your SIPP at different times in the future.
- Booking in an annual review.
- Making changes to your SIPP pensions planning if your circumstances change.
Are there different types of specialist advisors?
While most SIPP brokers and advisors will understand all elements of SIPP planning and investments, some will be more experienced in different areas. They include:
- Property investment.
- Stocks and shares.
- SIPP lending.
SIPP advisors who are specialists can tell you all the details of pretty much everything relating to the subject you’re interested in investing in with your pension. Even if you have a good understanding of the commercial property market and investing in it, a specialist SIPP property advisor might be able to advise you of specific benefits from tax planning for your pension you weren’t aware of.
They will know what type of investments would work well and potentially provide your pension with the most benefits. Meanwhile, SIPP stock market financial investment advisors can assist with finding you the best value for money full SIPP to support regular stock buying and selling.
In addition, a specialist can ensure you only interact with reliable and registered providers for the various investments you would like your SIPP to hold.
If you’re interested in specialist SIPP advice, get in touch with us and let us put you in touch with the right advisor for your needs.
How do I find the right pensions advisor?
There are a variety of ways to find the right SIPP advisor for your pension planning. You could get in touch with your bank as most will have a financial planning or pensions department.
Another option is to speak with friends and family and find out if they have any recommendations. This can work well if you’re a little unsure and you know your friend or family member is far from an expert on pensions or the world of financial investment.
Doing your own research online could work too. Although this route to finding a SIPP pension advisor or consultant could take you some time.
Alternatively, you could get in touch with us and we can do all the hard work for you and find the right SIPP specialist for your pension advice needs. The right pensions advice can help you understand and compare different providers by weighing up their pros and cons.
Can I find free advice?
Yes you can. In many cases an initial SIPP consultation, will be free, whether you seek advice from an independent financial advisor about your pension, or someone who works for a SIPP provider.
However, after that first meeting, you could be required to pay for further advice. Or, if you choose to open a SIPP, either through an advisor or specific SIPP provider, you will likely have access to at least some free advice.
There are also other places you can look for free SIPP advice, such as the pensions advisory service. This is a new format for the non-departmental Government public body and is also a good place to go if you feel you’ve received some bad SIPP pension advice.
Another option is to check the Financial Conduct Authority (FCA) website to find specific SIPP advice or information. However, if you feel you need to compare SIPP pension advice, it can be helpful to speak with an independent financial advisor.
Of course, in some cases you will be required to pay your SIPP pensions advisor. This can be in a variety of ways:
- An hourly charge for any meetings.
- A set fee in return for a specific SIPP task.
- A monthly fee for regular advice and activity.
- Through an annual fee for your chosen SIPP account.
Charges vary widely from advisor-to-advisor and SIPP provider-to-provider, so you should always make sure you understand any costs you will be charged for SIPP advice.
Speak to a pensions specialist
If you have questions about a SIPP and how a specialist pensions financial advisor can help you, then get in touch with us today. Call us today on 0808 189 0463 or make an enquiry here and we can put you in touch with an expert.