The interests of our clients are at the heart of everything we do at Yorsipp, and we therefore embrace the enhanced focus on consumer protection and empowerment that the FCA has introduced via the new Consumer Duty Regulations.
Consumer Duty regulations set a higher standard for financial service providers, and we are eager to exceed these expectations. We are committed to the financial well-being of our Members and aim to demonstrate this via the four outcome areas of Consumer Duty:
- Products and services – We offer three individual SIPP products, and a SSAS product, that cater to the diverse needs and aspirations of our Members identified in our Target Markets, via regulated UK based IFAs. We have rigorously reviewed our offerings to ensure they meet the highest standards of fairness, clarity, and suitability, and each option we provide has internal checks built in to ensure Members (with their IFAs) have considered the product aligns with Member’s individual goals.
- Price and value – Transparency is at the core of our ethos. We are market competitive and have a clear and concise fee structure that does not charge for a lot of activity-based transaction. Additionally, we do not apply any hidden charges within the charge structure of any of our products.
- Consumer understanding – Our target market is adviser led investors who wish to have a say in their pension investment decisions and wish to access a wider variety of investment choice. Empowering our clients with comprehensive knowledge is vital to making informed decisions. We are dedicated to breaking down complex financial concepts into easily understandable terms and have invested in enhancing our resources and communications.
- Consumer support – Our commitment to supporting our clients throughout their pension journey remains paramount. The new regulations further reinforce our dedication to providing exceptional, personalised support and guidance via our team of expert administrators.
At Yorsipp, we are excited about the positive changes brought in via the FCA Consumer Duty regulations, and we are committed to shaping a brighter and more prosperous financial future for our Members. All our Consumer Duty resources, including up-to-date clear schedules of fees, can be found in our Documents.
What we do
SIPP
Self-Invested Personal Pension
- tax relief on personal contributions
- allows you to make transfer payments from other appropriate pension arrangements
- flexible Whole Of Market investment choice
- commercial property purchase
- allows you to save for your retirement in a tax efficient and flexible manner
SSAS
Small Self-Administered Scheme
- typically family businesses or company directors and key employees
- loanback permitted - the employer can take out a loan for the value of up to 50% from the scheme’s net assets
- up to 5% of the fund value can be invested in the sponsoring employer’s shares
- commercial property focus
- no income tax or Capital Gains Tax on investments
SIPP
Self-Invested Personal Pension
- tax relief on personal contributions
- allows you to make transfer payments from other appropriate pension arrangements
- flexible Whole Of Market investment choice
- commercial property purchase
- allows you to save for your retirement in a tax efficient and flexible manner
SSAS
Small Self-Administered Scheme
- typically family businesses or company directors and key employees
- loanback permitted - the employer can take out a loan for the value of up to 50% from the scheme’s net assets
- up to 5% of the fund value can be invested in the sponsoring employer’s shares
- commercial property focus
- no income tax or Capital Gains Tax on investments
