Anthony Caldwell – Vita Financial Planning

How did you first find out about IPM?

We found out about IPM through our own research work.

How long have you been using IPM?

We have been using IPM for 10-11 years.

What are the most important factors/considerations when choosing a SIPP?

Service. Knowing that IPM has people at the end of the phone that can give realistic, workable answers. We don’t need help with the technical jargon, we understand that, but knowing that they are there to work with you to support a client, that their people are qualified, use their common sense and are allowed to help is exactly what we look for in a SIPP provider.

How does IPM deliver on those factors/consideration?

All of their employees are qualified and experienced. They have good processes and systems in place. For example, if you call them with a problem your client is facing, anyone can pick up the issue and deal with it. They don’t just give advice, they actually work with you to help to resolve the problem. They explain how you can use a product or service to achieve the best outcome for your client.

What are the key reasons why you recommend IPM to your clients?

Nine times out of ten, the type of clients we deal with are high-net-worth. Such clients do not have a black and white pension picture. The pension world today is very complex and the more money a person has the more difficult it is to manage. You cannot expect a single product to be pulled from a packet off a shelf, the approach needs to be tailored to suit the needs of each and every client.

What do you believe are IPM’s key strengths?

Their staff and their willingness to help. Also their results, they always deliver on their word. They keep things simple and make it work.

How would you rate IPM’s administration?

Excellent – sometimes it’s too good!

Could you briefly describe the most complex case you have given to IPM and assess how they handled it?

There are two scenarios I use IPM for:

1. Commercial property purchase. IPM follow the rules and work to try to help the client and myself understand what can be done to meet the client’s objective.

Two years ago I used IPM for a very complex property purchase. They were very supportive and patient. Connected party transactions are very complicated in this day and age. IPM remained very strict about the rules, ensuring all parties understood what could be done as commercial property purchases are not black and white.

2. The second area I use IPM for is large pension pots. The clients who we work with are within the top 2% of earners in the UK. In terms of tax and earnings, their pension situation is very complex. I had a client who had well over the Lifetime Allowance limit, he held more than 1.8 million in pensions. IPM helped by bringing all the pensions together into a discretionary managed portfolio.

IPM thoroughly researched the discretionary fund as well as ensuring certain assets were allowable under pension legislation. This helped the client and myself put flags in place for periods where we needed to revisit and reconsider the Lifetime Allowance limit as well as review the fund to consider meeting the legal requirements and the reporting that we need to do.

Unlike other firms who state in their marketing literature that they will offer these services, often you find you end up doing a lot of work yourself. IPM share the workload and simplify the process.

In three words or phrases, how would you describe IPM?

  • Supportive
  • Helpful
  • Realistic

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