Should SIPPs be opened up to include alternative finance?
This is a short survey of Financial Advisers views on alternative finance in SIPPs

Your Experience

The UK Alternative Finance market recently passed the £10bn mark, and with the launch this year of the new Innovative Finance ISA (IFISA) for peer to peer and debt-based crowdfunding, it is becoming increasingly mainstream. The FCA has also made advising on peer to peer loans a regulated activity. Advising on debt-based securities was already covered by existing advice permissions

This short survey aims to find out if you, as a Financial Adviser, feel peer to peer loans (loans) and debt-based securities (bonds), which HMRC allows into IFISAs, should also be allowed in SIPPs.

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* 1. How familiar are you with peer to peer lending?

Very

Familiar but not well informed

Not familiar

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* 2. How familiar are you with debt-based securities?

Very

Familiar but not well informed

Not familiar

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* 3. Are you aware which of the following products can be held in the Innovative Finance ISA?

	Yes	No	Don't know
Debt based securities (bonds)	Debt based securities (bonds) Yes	Debt based securities (bonds) No	Debt based securities (bonds) Don't know
Invoice finance	Invoice finance Yes	Invoice finance No	Invoice finance Don't know
Peer to peer lending	Peer to peer lending Yes	Peer to peer lending No	Peer to peer lending Don't know
Peer to business lending	Peer to business lending Yes	Peer to business lending No	Peer to business lending Don't know
Equity crowdfunding	Equity crowdfunding Yes	Equity crowdfunding No	Equity crowdfunding Don't know

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* 4. Have your clients asked you for advice regarding peer to peer loans or debt-based securities?

Yes, they do so regualarly

Yes, occasionally

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* 5. Have you ever discussed peer-to-peer loans or debt-based securities with your clients?

Yes, I do so regularly

Yes, I have occasionally

No, but I may in the future

No, and I have no plans

If Yes, what were your main reasons for discussing peer-to-peer loans or debt-based securites with your client?

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* 6. Have you ever recommended or advised clients on peer-to-peer loans or debt-based securities?

Yes, I do so regularly

Yes, I have occasionally

No, but I may in the future

No, and I have no plans to

If No, what are your main reasons for not recommending peer-to-peer loans or debt-based securities?

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* 7. Have you heard of the new Innovative Finance ISA?

Yes

I have heard of it, but don't know much about it

I haven't heard of Innovative Finance ISAs

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* 8. How suitable do you feel peer-to-peer loans or debt-based securities might be for SIPP investors?

Very suitable

Some products are potentially suitable for some investors

Not suitable

Any other comments you would care to add would be very helpful

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* 9. If peer-to-peer loans or debt-based securities could be held in a SIPP would this make them more or less attractive to you?

More attractive

Less attractive

No impact

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* 10. Do you think SIPP holders would be interested in using their pensions pot to lend?

Yes, I am already aware of clients who would like to do so

Yes, I think some SIPP holders would be very interested

No, I don't think SIPP holders would want to use their pension for p2p lending or crowd bonds

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* 11. Which of these are barriers to your clients using their SIPP for peer-to-peer loans or debt-based securities?

	Significant issue	A more minor issue	Not an issue	I don't know
They are non standard assets which means most SIPPs don't allow them	They are non standard assets which means most SIPPs don't allow them Significant issue	They are non standard assets which means most SIPPs don't allow them A more minor issue	They are non standard assets which means most SIPPs don't allow them Not an issue	They are non standard assets which means most SIPPs don't allow them I don't know
I am not confident about advising on peer-to-peer loans or debt-based securities, whether inside or outside a tax wrapper	I am not confident about advising on peer-to-peer loans or debt-based securities, whether inside or outside a tax wrapper Significant issue	I am not confident about advising on peer-to-peer loans or debt-based securities, whether inside or outside a tax wrapper A more minor issue	I am not confident about advising on peer-to-peer loans or debt-based securities, whether inside or outside a tax wrapper Not an issue	I am not confident about advising on peer-to-peer loans or debt-based securities, whether inside or outside a tax wrapper I don't know
I can't use my usual platforms	I can't use my usual platforms Significant issue	I can't use my usual platforms A more minor issue	I can't use my usual platforms Not an issue	I can't use my usual platforms I don't know
The fees are higher on the SIPPs that allow this, and that eats into returns	The fees are higher on the SIPPs that allow this, and that eats into returns Significant issue	The fees are higher on the SIPPs that allow this, and that eats into returns A more minor issue	The fees are higher on the SIPPs that allow this, and that eats into returns Not an issue	The fees are higher on the SIPPs that allow this, and that eats into returns I don't know

Other (please specify)

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* 12. If peer-to-peer loans / debt-based securities were reclassified as standard assets for SIPPs would you be more likely to advise on holding these investments in a client’s SIPP:

Yes

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* 13. Would you be interested in attending a short CPD accredited educational event to better inform yourself about Alternative Finance and the IFISA:

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* 14. If you have particular SIPPs you would like to use for peer-to-peer loans/debt based securities, or have any experience to share we would love to hear more.
Thank you for your time, it is much appreciated.

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* 1. How familiar are you with peer to peer lending?

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* 2. How familiar are you with debt-based securities?

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* 3. Are you aware which of the following products can be held in the Innovative Finance ISA?

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* 4. Have your clients asked you for advice regarding peer to peer loans or debt-based securities?

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* 5. Have you ever discussed peer-to-peer loans or debt-based securities with your clients?

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* 6. Have you ever recommended or advised clients on peer-to-peer loans or debt-based securities?

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* 7. Have you heard of the new Innovative Finance ISA?

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* 8. How suitable do you feel peer-to-peer loans or debt-based securities might be for SIPP investors?

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* 9. If peer-to-peer loans or debt-based securities could be held in a SIPP would this make them more or less attractive to you?

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* 10. Do you think SIPP holders would be interested in using their pensions pot to lend?

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* 11. Which of these are barriers to your clients using their SIPP for peer-to-peer loans or debt-based securities?

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* 12. If peer-to-peer loans / debt-based securities were reclassified as standard assets for SIPPs would you be more likely to advise on holding these investments in a client’s SIPP:

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* 13. Would you be interested in attending a short CPD accredited educational event to better inform yourself about Alternative Finance and the IFISA:

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* 14. If you have particular SIPPs you would like to use for peer-to-peer loans/debt based securities, or have any experience to share we would love to hear more.Thank you for your time, it is much appreciated.

* 14. If you have particular SIPPs you would like to use for peer-to-peer loans/debt based securities, or have any experience to share we would love to hear more.
Thank you for your time, it is much appreciated.