Self Invested Personal Pensions - SIPPs - UK - December 2013:Industry Analysis Report

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Self Invested Personal Pensions - SIPPs - UK - December 2013:Industry Analysis Report
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Self Invested Personal Pensions - SIPPs - UK - December 2013:Industry Analysis Report

  1. 1. Self Invested Personal Pensions - SIPPs - UK - December 2013 The main winner following increased regulation from the FCA will undoubtedly be the larger SIPP providers. Their economies of scale will allow them to continue to dominate the market, by acquiring their smaller rivals and lowering costs, to appeal to a wider range of consumers. table Of Content introduction abbreviations executive Summary the Market sipp Market Is Expected To Go From Strength To Strength figure 1: Forecast Of New Sipp Premiums (at Current Prices) – Fan Chart 2008-18 total Assets Under Administration Continue To Increase In The Sipp Industry figure 2: Total Sipp Assets For The Wealth Management Industry, 2007-13 market Factors regulatory Developments financial Advisers Remain The Most Popular Channel, But Sipps Are Gaining Ground figure 3: Sipp Purchasing Methods, August 2013 companies, Brand And Innovation standard Life Remains The Largest Sipp Provider In 2013 james Hay Launches Modular Sipp the Consumer sipp Ownership sipp Investment Ownership figure 4: Investments That Sipp Owners Want To Hold Within Their Sipp, August 2013 sipp Contribution Habits figure 5: Sipp Contribution Habits, August 2013 sipp Satisfaction Levels figure 6: Sipp Satisfaction Levels, August 2013 most Valued Features And Benefits Of Owning A Sipp figure 7: Most Valued Features And Benefits Of Owning A Sipp, August 2013 motivations For Transferring A Sipp Self Invested Personal Pensions - SIPPs - UK - December 2013
  2. 2. figure 8: Motivations For Transferring A Sipp, August 2013 what We Think issues In The Market how Will Consolidation In The Sipp Market Affect Consumers? can Taking A Modular Approach Broaden The Appeal Of Sipps? how Can Providers Build And Sustain Their Reputation? will Increasing Numbers Of Consumers Go Direct To Their Sipp Provider? trend Application providers Could Turn Sipp Success Stories Into A Marketing Drive consumers Can Take Control Of Their Retirement Savings using Technology To Promote The Personal Touch Of Advice In The Sipps Market market Drivers key Points capital Adequacy Will Lead To Consolidation In The Sipp Industry reactions To The Capital Adequacy Changes the Market Awaits The Fca’s Third Thematic Review the Fca Removes Sipps Exemption From Disclosure fscs Will Protect Consumers Sipp Cash Deposits Up To £85,000 issues Affecting The Wider Pension Industry the Chancellor Reduces Lifetime Allowance the Treasury Plans To Cap Pension Fees auto-enrolment who’s Innovating? key Points sipp Chat – The Trip Advisor For Sipps aj Bell’s Sippdeal Launches Free Mobile Dealing App james Hay Launches Modular Sipp Self Invested Personal Pensions - SIPPs - UK - December 2013
  3. 3. liberty Sipp Reduces Its Offering To One Product market Size And Forecast key Points assets Under Management Continue To Increase In The Sipp Market figure 9: Total Wealth Management Industry Sipp Assets, 2007-13 sipp Sales Estimated To Have Increased In Both Volume And Value In 2013 figure 10: Volume And Value Of New Sipp Business, 2009-13* mintel Expects Sipps To Become Increasingly Popular Amongst Investors figure 11: Forecast Of The Number Of New Sipp Sales – Fan Chart, 2008-18 figure 12: Forecast Of The Value Of New Sipp Premiums- Fan Chart, 2008-18 figure 13: Forecast Of New Sipp Business, At Current And Constant Prices, 2013-18 forecast Methodology fan Chart Explanation market Share key Points standard Life Remains The Largest Sipp Provider In 2013 figure 14: Top 10 Sipp Providers, By Value Of In-force Business, 2013 (mid-year) new Capital Adequacy Rules Expected To Create Consolidation In The Sipp Industry sipp Market Will Be Increasingly Be Dominated By Larger Providers companies And Products aj Bell figure 15: Interim Financial Data For Aj Bell, H1 2012 And H1 2013 hargreaves Lansdown figure 16: Annual Financial Data For Hargreaves Lansdown, 2012 And 2013 james Hay Partnership standard Life figure 17: Interim Financial Data For Standard Life Uk, H1 2012 And H1 2013 suffolk Life figure 18: Annual Financial Data For Suffolk Life Pensions, 2011 And 2012 Self Invested Personal Pensions - SIPPs - UK - December 2013
  4. 4. channels To Market key Points over Half Of Sipp Holders Purchased Their Sipp Through An Adviser figure 19: Sipp Purchasing Methods, August 2013 the Best Of Both – Mixing Advice And Direct Investing sipp And Pension Ownership key Points consumers Have Low Levels Of Retirement Savings figure 20: Active Pension Ownership And Retirement Savings, December 2012 auto-enrolment Set To Increase Workplace Pensions Ownership sipp Ownership Is Low Amongst The General Population sipp Investment Ownership key Points simple Investments Are Most Popular Amongst Investors figure 21: Investments That Sipp Owners Want To Hold Within Their Sipp, August 2013 financial Advice Enables Consumers To Invest In More Complex Financial Products figure 22: Sipp Investments, By Sipp Purchasing Methods, August 2013 contribution Habits key Points over A Third Of Sipp Holders Make Irregular Contributions figure 23: Sipp Contribution Habits, August 2013 the Majority Of Sipp Holders Are Making Regular Contributions advised Sipp Holders Contribute More Regularly Than Direct Sipp Holders figure 24: Sipp Contribution Habits, By Sipp Purchasing Methods, August 2013 satisfaction Levels And Value Of Different Sipp Features Self Invested Personal Pensions - SIPPs - UK - December 2013
  5. 5. key Points sipp Holders Are Satisfied With The Performance Of Their Investments figure 25: Sipp Satisfaction Levels, August 2013 sipp Holders Value Having Control Over Their Pension Savings figure 26: Most Valued Features And Benefits Of Owning A Sipp, By Sipp Purchasing Methods, August 2013 advised And Direct Investors Have Different Preferences advised Sipp Holders Are Prepared To Take More Risks To Achieve Higher Returns advised Sipp Holders Are Prepared To Pay More For Good Financial Advice And Higher Returns direct Sipp Providers Should Focus On Low Cost Solutions tax Efficiency Is An Issue Which Appeals To Advised And Direct Consumers ad-hoc Investors Seek Control Over Their Investments figure 27: Most Valued Features And Benefits Of Owning A Sipp, By Sipp Contribution Habits, August 2013 consumers Who Contribute Higher Amounts Are More Likely To Want To Diversify motivations For Transferring A Sipp key Points a Providers’ Reputation Would Persuade A Third Of Consumers To Transfer figure 28: Motivations For Transferring A Sipp, August 2013 three Out Of 10 Sipp Holders Want A Wider Range Of Investments over A Fifth Of Sipp Investors Would Not Consider Transferring Out appetite For Complex Investments Divides Sipp Holders figure 29: Motivations For Transferring A Sipp, By Most Valued Features And Benefits Of Owning A Sipp, August 2013 price Remains Important To Over Half Of Consumers figure 30: Motivations For Transferring A Sipp, By Sipp Purchasing Methods, August 2013 similar Motivations For Transferring For Advised And Direct Investors appendix – Market And Product Definitions product Definitions self-invested Personal Pension simple/platform Sipp mid-range Sipp bespoke/full-range Sipp standard And Non-standard Investments esoteric Investments illiquid Assets Self Invested Personal Pensions - SIPPs - UK - December 2013
  6. 6. appendix – Channels To Market figure 31: Sipp Purchasing Methods, By Demographics, August 2013 appendix – Sipp Investment Ownership figure 32: Most Popular Sipp Investments, By Demographics, August 2013 figure 33: Next Most Popular Sipp Investments, By Demographics, August 2013 figure 34: Sipp Investments, By Sipp Purchasing Methods, August 2013 appendix – Contribution Habits figure 35: Sipp Contribution Habits, By Demographics, August 2013 figure 36: Sipp Contribution Habits, By Sipp Purchasing Methods, August 2013 appendix – Satisfaction Levels And Value Of Different Sipp Features figure 37: Sipp Satisfaction Levels, By Demographics, August 2013 figure 38: Most Valued Features And Benefits Of Owning A Sipp, By Demographics, August 2013 figure 39: Most Valued Features And Benefits Of Owning A Sipp (continued), By Demographics, August 2013 figure 40: Most Valued Features And Benefits Of Owning A Sipp, By Sipp Purchasing Methods, August 2013 figure 41: Most Valued Features And Benefits Of Owning A Sipp, By Sipp Contribution Habits, August 2013 appendix – Motivations For Transferring A Sipp figure 42: Most Popular Motivations For Transferring A Sipp, By Demographics, August 2013 figure 43: Next Most Popular Motivations For Transferring A Sipp, By Demographics, August 2013 figure 44: Most Valued Features And Benefits Of Owning A Sipp, By Motivations For Transferring A Sipp, August 2013 Self Invested Personal Pensions - SIPPs - UK - December 2013
  7. 7. ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Self Invested Personal Pensions - SIPPs - UK - December 2013

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