InvestAcc is pleased to announce, after a thorough review by AKG Financial Analytics Limited, we have been awarded a B- rating for financial strength.
The rating reflects our prudent approach to managing and preserving capital within the business, significantly in excess of that required under the new FCA Capital Adequacy requirements. As at 1st September 2016 we held approximately 200% of the minimum required under the new rules.
For a number of years, the regulator has been concerned about the financial strength of some SIPP Operators, leading the FSA (now FCA) to announce proposals for a new Capital Adequacy regime in late 2012. As a consequence, we have seen lots of consolidation of weaker providers and we expect that trend to continue.
A copy of the full AKG report is available on request.
November 23rd, 2016
The Minerva SIPP can invest in a wider range of assets including commercial property and land, on an individual or group basis. Any combination of permitted investments may be made within a Minerva SIPP including deposit accounts, DFM, open market platform/wrap accounts, stockbroker accounts and trustee investment plans, all held together within the same SIPP.
SIPP Lite is a lower cost option, for those that do not require multiple investment accounts, or access to commercial property and land at outset. SIPP Lite members are restricted to a maximum of one investment account, to run alongside the default SIPP bank account. This investment account could be another bank account or ONE of the following: stockbroker account, DFM, open market platform/wrap account or a trustee investment plan. For individuals that require additional investments at a later date, including commercial property and land, they can upgrade their SIPP Lite plan to a Minerva SIPP.
A Small Self-Administered Scheme (SSAS) is a type of UK registered pension scheme. Each SSAS is governed by its own trust deed and rules and is a separate legal entity to the sponsoring employer. The sponsoring employer establishes the SSAS and invites members to join. Any individual employed by the sponsoring employer (or a participating employer) may join the scheme and all members are appointed as trustees alongside the professional trustee. SSAS trustees have a very wide range of investment options, including the ability to make secured loans to the sponsoring employer of up to 50% of the net asset value of the scheme, subject to certain conditions.
We have been operating in these markets for over 20 years. The SSAS business was formed in 1997, and in 2003 we launched our flagship product, the Minerva SIPP. The range is completed by SIPP Lite, which has been available since July 2012.
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