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Building a 21st Century SSAS


A long held view of mine is that SSAS clients deserve to be treated in a similar vein to SIPP clients - the products are virtually identical except for the huge amount of PR and product development bestowed on SIPPS over the past 10 years. As part of our commitment to give SSASs the same high standards of treatment as our SIPP clients, we have just launched our online SSAS service.

You and your SSAS clients will be able to log onto our website and view data such as the SSAS asset values, bank account transactions and fund splits, in the same way as you currently can for SIPPs.

Good news we think, but the most remarkable bit of this is that, whilst this sort of service has been widely developed for any decent SIPP product , it is still almost unheard of for SSASs. We hear that, quite rightly, SSASs are valued more highly these days, and there are thought to be some 50,000 of them out there, but many are still being run in the same way as 20 or 30 years ago.

This can only be put down to the fact that unlike SIPPS there has not been the pressure put on providers to develop their SSAS offering. Such provider apathy has been bad news for consumers who may endure high fees from the days when actuarial valuations and accounts were still needed and ancient paper based operating systems.

We take over quite a few SSASs and the reasons people come to us are almost always high fees and lack of service. Some SSAS fees have to be seen to be believed, up to £5,000 p.a. in some cases for a basic service. Replace the SSAS by a SIPP (a virtually identical product) and the fees might be more like £500 p.a., with better service into the bargain.

Of course you don't have to replace the SSAS with a SIPP, it can keep going with new advisers charging sensible fees and providing a good service. There's nothing wrong with SSASs at all, other than a lot of them needing to be dragged into the 21st century.

SIPPs are big business but do you know of any SSASs out there which are looking a bit neglected? If so, they might want to find out what we can do for them.............



This communication provides general guidance to financial advisers. It is not a full description of our products and services and more information is available on our website at or by contacting us on (0117) 9107910. It is not intended to be read by clients or potential clients and any such persons should take independent financial advice before taking any action on their pension arrangements.

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