Matthew Jordan – Blackstone Moregate

How did you first find out about IPM?

Our relationship with IPM goes back about 16 years. I worked for a practice which merged with a larger IFA based in the East Midlands and they were already using IPM. We therefore used a panel of products from IPM.

How long have you been using IPM?

16 years.

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

It all comes down to the service IPM provide, not the cost. When you consider the amount of money that we are investing, the cost is not significant. It’s all about the service.

How does IPM deliver on those factors/consideration?

James is our primary point of contact and is very attentive. There are no boundaries in IPM, nobody is precious about their role and everyone is willing and able to help. IPM is simply interested in providing the very best advice that they can to their clients.

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

We would recommend IPM to our clients because we can rely on them to deliver. We use them for several reasons:

  • To assist with commercial property purchases: their property department is very helpful, buying a commercial property in a SIPP is like buying a residential property; issues do crop up and need resolving
  • We also use them for our clients who are entering retirement and need an income and the reliability of an income. That income might need to be on a particular day of the month, in a particular currency, it could even be a variable amount each month. IPM is able to accommodate all of these requests.

What do you believe are IPM’s key strengths?

  • Communication
  • Service
  • Attentive

IPM provides attentive service. It’s not just about having a SIPP, it’s the consideration they give to all of the potential hurdles that a client may face along the way as well as the dynamics of a case.

How would you rate IPM’s administration?

I would rate IPM’s administration as very good. In an industry where service is generally below average, if I had to grade IPM on a scale I would give them a solid eight or nine out of 10, whereas most SIPP providers I would grade five or six out of ten and most life insurance companies just four out of ten.

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

IPM handled a complicated SIPP to SIPP transfer case for us. The existing SIPP held a commercial property, a discretionary managed portfolio and an amount of cash.

The member instigated the transfer because they were generally fed up with the incorrect communication they were receiving and felt they were paying exorbitant fees for very poor service. We suggested giving IPM a try.

The transfer was made quite difficult by the existing provider, particularly in relation to the transfer of the commercial property.

IPM found flaws in both the insurance and land registry documents provided by the existing SIPP provider. IPM helped both us and the member by providing guidance on how we could go back to the solicitor enabling us to process the transfer. In the end, it took two months to process, if we had used another SIPP provider I’m convinced it would have taken many more months to resolve.

Moving the discretionary portfolio wasn’t easy either as we had to get the approval of the existing SIPP provider and re-register the assets over to the existing SIPP. IPM gave advice and came up with a solution to the problem as they know how important it is to get issues like this over the line.

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

  • Great service
  • A pleasure to deal with
  • A solution provider, for IPM it’s not all about the sale

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