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Top 10 things to look for in a SIPP & SSAS provider
Making the decision between a SIPP or SSAS pension scheme requires careful consideration, but a great provider will work with a client to make sure they get the right product to meet their individual needs and objectives.
We have decades of experience in advising clients on SIPP and SSAS pensions and producing our own pension products, so here we offer our list of the top 10 things to look for in a provider:
1. Service, not sales
To select the right SIPP or SSAS pension, we need to understand our clients’ personal circumstances and set out specific objectives. We carefully guide them through this process, finding the right solution on a case-by-case basis.
2. Looking beyond cost
Although the headline fee is an expense that should be kept in mind, the quality of service and long-term value for money is also important to consider. At Taylor Patterson, we pride ourselves on offering an excellent level of personal service to all our clients, as time spent on poor administration can result in overall higher costs for clients.
3. Flexible savings
Rather than restricting clients to a default bank account which might offer a low rate of interest, we enable them to open more than one deposit account. By saving through multiple accounts, they can achieve greater rates of interest on funds in their SIPP or SSAS pension pot.
4. Regular technical updates
We provide information to ensure that our advisers have excellent knowledge of the current legislation so that they can confidently advise clients and, where necessary, adjust their approach accordingly.
5. Online accessibility
SIPP pension holders can view their bank accounts online, and soon, our SSAS clients will be able to do so too. By accessing their bank account online at any time, they can carefully track their savings’ growth.
6. Strong administration
Our team of expert technicians and administrators is available to make the job of choosing the right SIPP or SSAS pension easier. With over 100 years’ of experience between us, there aren’t many situations that we haven’t encountered. We also offer a dedicated administrator to give the client confidence and a personal service.
7. Straightforward forms
Filling out forms can be time-consuming and confusing. We regularly review our paperwork to ensure that they are simple to understand and can be filled out correctly first time. The team are always here to answer any questions your client might have.
8. Technical know-how
Whilst we take care of the technicalities for all our clients, we also provide full access to a dedicated technical team in case they encounter any problems or issues that need to be dealt with swiftly and securely.
9. Professional connections
Here at Taylor Patterson, we have established professional intermediary connections with local accountants and solicitors, but we are always happy to let the client use their own professional connections if they wish.
10. Satisfaction levels
We constantly measure client satisfaction levels to assess the quality of our service, and make changes where necessary to ensure that both new and existing clients benefit from the best possible use of our knowledge and experience.
Call us today on 01772 555073 for a free consultation or visit sippssas.taypat.co.uk for more information about our SIPP and SSAS pension plans.