The SIPP market has been growing year on year since their inception. New entrants to the market continue to arrive either in the form of the classic SIPP provider operators, adviser platform propositions, group as well as auto-enrollment platforms and direct to consumer brands. Consultancy for market entry provides support for clients entering the market for the first time, or clients looking to add new propositions to augment existing capabilities. The service addresses the following areas:
- What are the legal and regulatory steps necessary to becoming an approved provider, qualifying scheme, pension administrator and trustee?
- What operational expertise is required to handle all aspects of quotations / illustrations, daily administration, transfers (in and out), income drawdown, annuity purchase, death, regulatory reporting, annual review etc.? What qualifications are required, and what is the likely cost of the requisite expertise?
- What additional operational expertise is needed for servicing the corporate market (eg payroll deductions/interface etc)?
- Are there any specific aspects relevant to being a qualified provider for auto-enrolment?
- Which aspects can be conducted on an execution-only basis and which must be advised?
- What software packages are recommended and how much work is required to configure and integrate / interface with our own dealing and asset recording systems?
- What are the range of costs associated with implementing and licensing such software?
- What is the optimum ratio of customers to staff, assuming an advanced level of automation and internet access for customers?
- What are the ongoing compliance and audit requirements and costs?
Helping clients to set up, run and grow
Dunstan Thomas has been a technology service provider in the SIPP and platform market since 1996. Over these years it has built experiences and expertise to help clients not only build and deploy IT systems but has offered administration and consulting services to help clients set up, run, operate and grow their business.
Consulting services for market entry - we help clients looking to set up and enter the market.
Consulting and administration services for business as usual - we help existing operators run more effectively in the market.
Consulting services for market consolidation and growth - we help clients acquire, consolidate and grow books of business.
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