Rowanmoor SIPP Review (2024) Discover the Benefits!
Rowanmoor distinguishes itself with bespoke SIPP options, catering to sophisticated investors seeking tailored investment strategies. Their personalised service and expertise in complex pension planning are unparalleled.
Last Updated: 30 Sep 2024
Fact Checked
Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.
Katherine Read Is a Financial Writer Known for Her Work on Financial Planning and Retirement Finance, Covering Equity Release, Lifetime Mortgages, Home Reversion, Retirement Planning, SIPPs, Pension Drawdown, and Interest-Only Mortgages.
Rachel is an Experienced Journalist Specialising in Personal Finance, Property, Credit/Debt and Consumer Affairs, With Articles Featuring in Both National Newspapers and a Range of Personal Finance Websites.
Francis Hui Is Senior Risk Manager With a Wealth of High-Level Experience Across the Industry, and a True Expert at Helping UK Citizens Make Smart Financial Decisions and Manage Risk.
EveryInvestor Promise
Expert Verified
At EveryInvestor, our aim is to assist you in making informed financial choices. We are committed to maintaining rigorous editorial standards, yet it is important to note that our content may include references to our partner's products. For full transparency, here is an overview of how we earn money.
What Are the Benefits of a Rowanmoor SIPP? Find Out Now & Navigate the Path to a Prosperous Retirement.
Key Takeaways
A Rowanmoor SIPP offers bespoke control over your investments and retirement planning, providing tax benefits, a variety of investment choices, and the option to merge several pension pots.
Rowanmoor provides diverse investment opportunities, including stocks, bonds, property, and funds, enhancing the potential for higher returns.
Opening a Rowanmoor SIPP involves fulfilling eligibility requirements, submitting ID documents, and completing their application; additionally, you can transfer existing pensions into a Rowanmoor SIPP for greater control and consolidation of your retirement funds.
In August 2022, Rowanmoor Personal Pensions Ltd., the parent company behind the Rowanmoor SIPP (Self-Invested Personal Pension), went into administration.
Despite the fact that this SIPP provider is no longer available, you may come across it during your research into pension solutions, so it is worth taking note of the company and its history.
In This Article, You Will Discover:
Join the EveryInvestor team as we delve into the turbulent journey of the Rowanmoor SIPP.
All our content undergoes extensive quality and compliance checks, ensuring you are comprehensively informed every step of the way.
EveryInvestor SIPPS Masterclass
Your key to making an informed decision about self invested personal pension schemes.
What You'll Learn in the Masterclass
5 Dynamic Modules - From Basics to Expert Insights
7 Free Downloads & Checklists - from what questions to ask, to avoiding scams!
Rowanmoor was, at one point, the UK’s largest independent provider of Small Self-Administered Schemes (SSAS) and a provider of bespoke SIPPs.
To understand more about Rowanmoor’s SIPP, we shall take a look at the backstory, including a brief history and overview of the firm, the key players in its growth, and its current market position.
Brief History & Overview
Rowanmoor was founded in 2006 after a buyout of James Hay Pension Trustees’ SSAS business.1
Managing £1,5 billion and 4,800 pensions, the firm provided various personal pension options.2
In 2009, joint managing director David Seaton took his life amid a fraud investigation involving £1,6 million.3
By 2016, the Embark Group had acquired all shares of Rowanmoor Group plc entities.
In August 2020, Embark stopped new business for the Rowanmoor SIPP but maintained support for existing clients.4
The Financial Ombudsman Service (FOS) issued a directive concluding that Rowanmoor failed to safeguard client investments, which triggered a crisis.5
The FOS decision was followed by a wave of over 800 complaints, the majority of which centred around questionable investments with The Resort Group.6
Just seven months later, in March 2023, the beleaguered Rowanmoor SIPP found a lifeline through its acquisition by pension administration firm Alltrust Services.7
Key Players in Rowanmoor’s Growth
A key player in Rowanmoor’s growth was pension fund stalwart Ian Hammond, who was managing director from 2006 until the Embark buyout in 2016.8
Paul Downing became chief executive of Embark Pensions, which included Rowanmoor, in 2020.9
Current Market Position
In March 2022, the FOS determined that Rowanmoor Personal Pensions Limited inadequately verified the credentials of CIB Life and Pensions Limited (CIB).10
CIB Life and Pensions Limited, and its appointed representative, RealSipp, had sold a Cape Verde property investment—The Resort Group—to clients.
Between 2009 and 2013, CIB introduced 1,387 clients to Rowanmoor, comprising 26,9% of Rowanmoor’s business.11
This FOS decision had major repercussions for Rowanmoor, resulting in its administration and the sale of its SIPP business to Alltrust Services Ltd, an FCA-regulated pension provider.12
What Is a SIPP?
In the United Kingdom, the Self-Invested Personal Pension (SIPP) is a customizable pension scheme that enhances individual control over retirement savings.
This arrangement permits the inclusion and management of varied investments, including shares, bonds, and real estate assets, within one’s pension portfolio.
What Are the Benefits of a Rowanmoor SIPP?
A Rowanmoor SIPP offers multiple benefits for individuals looking to save for retirement.
Firstly, it provides a variety of investment options, allowing investors to diversify their portfolios and potentially maximize returns.
Additionally, a Rowanmoor SIPP offers flexibility in terms of contribution levels and the ability to make tax-free contributions, ensuring individuals can save according to their financial circumstances.
Another unique feature is the availability of pension loans, which can be used to access funds for specific purposes while still benefiting from the tax advantages of a SIPP.
Furthermore, a Rowanmoor SIPP offers inheritance tax planning benefits, as the assets held within the SIPP are typically outside the individual’s estate upon death.
This can help individuals pass on their wealth to future generations more efficiently.
The SIPP also provides the option to take tax-free lump sum withdrawals when reaching retirement age, allowing individuals to access their savings in a flexible manner.
Finally, a Rowanmoor SIPP offers the advantage of professional expertise, with access to dedicated pension specialists who can provide guidance and support throughout the investment journey.
How To Contact Customer Service & Support?
For customer service and support regarding your Rowanmoor SIPP, you can call 01722 770485 or email sipp@alltrust.co.uk.
What is Regulatory Compliance & Protection?
Rowanmoor Group Limited is a non-trading company registered in the United Kingdom with registration number 13526862.
Their registered office is at Rowanmoor House, 46-50 Castle Street, Salisbury SP1 3TS (VAT number: 419 9806 54).
Common Questions
What Makes Rowanmoor SIPP a Good Choice for Investors
Bespoke Solutions:
Rowanmoor is known for offering personalized SIPP arrangements that can be tailored to individual investment needs and retirement planning goals, making it suitable for investors looking for a customized approach.
With a strong focus on customer service, Rowanmoor provides access to experienced pension specialists who can offer guidance and support, which is particularly beneficial for those new to SIPPs or with complex pension needs.
How Does Rowanmoor SIPP Compare in Fees and Flexibility
Fees:
Rowanmoor’s fee structure is designed to reflect the bespoke nature of its services.
While it may not be the lowest cost provider in the market, the value comes from the personalized service and tailored pension solutions it offers.
It’s important for potential clients to review the specific fee structure, including set-up costs, annual management charges, and transaction fees.
Flexibility:
Rowanmoor SIPPs offer significant flexibility in contributions, investment choices, and withdrawal options (subject to UK pension regulations), catering well to those who require a more tailored approach to pension planning.
What Investment Options Are Available Through Rowanmoor SIPP
Rowanmoor SIPPs typically provide access to a wide range of investment options, including:
Direct investment in stocks and shares, Funds (unit trusts, OEICs), Bonds, Commercial property, And other allowable investments under HMRC rules.
This diversity enables investors to build a portfolio that matches their specific investment goals and risk profile.
What Are the Benefits of Choosing a Rowanmoor SIPP
Tailored Pension Planning:
The bespoke nature of Rowanmoor’s service allows for a pension plan that is closely aligned with individual retirement goals and financial situations.
Investment Diversity:
The ability to invest in a wide range of assets provides opportunities for portfolio diversification and potentially higher returns.
Expert Guidance:
Access to experienced pension professionals can be invaluable, especially for complex pension scenarios or for investors seeking reassurance and advice.
Flexibility:
The flexibility in managing investments and pension benefits, including phased retirement and drawdown options, is a key advantage for those seeking control over their retirement planning.
Who Is Eligible for a SIPP
Anyone under 75 resident in the UK who wants to take a hands-on approach to their pension is typically eligible for a SIPP.
Whether employed or self-employed, individuals can open a SIPP and contribute to it themselves, have their employer contribute, or do both.
Eligibility criteria and contribution limits may vary depending on personal circumstances and the chosen SIPP provider.
Benefits & Drawbacks of a SIPP
The benefits of a SIPP include individual control, flexibility, and potential tax advantages.
By weighing the benefits against the drawbacks and seeking appropriate guidance, individuals can determine if a SIPP is the right choice for their retirement planning. Benefits include:
Greater control and flexibility over your investment choices, allowing you to tailor your portfolios to your specific financial goals and risk tolerance.
Tax benefits such as tax relief on contributions and the opportunity for investments to grow tax free.
Consolidates pension savings, simplifying retirement planning and monitoring
Drawbacks include:
Increased control and decision-making come with added responsibility.
Managing investments within a SIPP requires time, knowledge, and careful monitoring of market fluctuations.
Poor investment choices or market volatility can impact the performance of the pension fund.
It is crucial to assess your investment expertise and seek professional advice to make informed decisions.
What Makes Rowanmoor SIPP a Good Choice for Investors
Bespoke Solutions: Rowanmoor is known for offering personalized SIPP arrangements that can be tailored to individual investment needs and retirement planning goals, making it suitable for investors looking for a customized approach.
Wide Range of Investment Options: They typically offer a broad array of investment opportunities, allowing for diversified portfolios that can be aligned with various risk tolerances and investment strategies.
Expertise and Support: With a strong focus on customer service, Rowanmoor provides access to experienced pension specialists who can offer guidance and support, which is particularly beneficial for those new to SIPPs or with complex pension needs.
How Does Rowanmoor SIPP Compare in Fees and Flexibility
Fees: Rowanmoor’s fee structure is designed to reflect the bespoke nature of its services. While it may not be the lowest cost provider in the market, the value comes from the personalized service and tailored pension solutions it offers. It’s important for potential clients to review the specific fee structure, including set-up costs, annual management charges, and transaction fees.
Flexibility: Rowanmoor SIPPs offer significant flexibility in contributions, investment choices, and withdrawal options (subject to UK pension regulations), catering well to those who require a more tailored approach to pension planning.
What Investment Options Are Available Through Rowanmoor SIPP
Rowanmoor SIPPs typically provide access to a wide range of investment options, including:
Direct investment in stocks and shares,
Funds (unit trusts, OEICs),
Bonds,
Commercial property,
And other allowable investments under HMRC rules.
This diversity enables investors to build a portfolio that matches their specific investment goals and risk profile.
Can I Transfer My Existing Pension Into a Rowanmoor SIPP
Yes, Rowanmoor usually allows for the transfer of existing pensions into its SIPP.
This includes consolidating various types of pensions, such as workplace pensions, personal pensions, and other SIPPs, into a single Rowanmoor SIPP, simplifying pension management and potentially aligning investment strategies more closely with the investor’s goals.
What Are the Benefits of Choosing a Rowanmoor SIPP
Tailored Pension Planning: The bespoke nature of Rowanmoor’s service allows for a pension plan that is closely aligned with individual retirement goals and financial situations.
Investment Diversity: The ability to invest in a wide range of assets provides opportunities for portfolio diversification and potentially higher returns.
Expert Guidance: Access to experienced pension professionals can be invaluable, especially for complex pension scenarios or for investors seeking reassurance and advice.
Flexibility: The flexibility in managing investments and pension benefits, including phased retirement and drawdown options, is a key advantage for those seeking control over their retirement planning.
In Conclusion
The story of Rowanmoor highlights the dynamic and sometimes unpredictable nature of the financial services industry.
It serves as a reminder of the importance of ongoing due diligence and the need for investors to stay informed about the stability and performance of their chosen financial institutions.
For those who once relied on its services, the closure of Rowanmoor may bring various challenges: It is essential for former clients and investors to monitor the transition and seek advice to ensure their retirement plans remain on track.
While navigating the ever-changing landscape of Self-Invested Personal Pensions in the UK, remembering the lessons learned from the Rowanmoor SIPP experience could be invaluable.
How Does EveryInvestor Ensure Expert-Verified Content?
At EveryInvestor, the integrity and precision of our information is paramount.
Being "expert verified" signifies that our review panel has meticulously assessed each article for precision and comprehensibility. This panel is made up of seasoned professionals in compliance is dedicated to guaranteeing that our content remains impartial and well-informed.
Their rigorous evaluations compel us to maintain a standard of excellence, ensuring that the information we provide is both reliable and of the highest quality.
EveryInvestor operates as an independent, advertisement-supported platform. Our goal is to equip you with the tools and knowledge for smarter financial decisions, offering access to our interactive resources and objective reporting at no charge.
The information we provide, while informative, is not intended as advice and should not be the sole basis for your decisions. We recommend consulting a financial professional to address your individual needs before investing.
Earnings Model
We receive compensation from companies whose products are featured on our site. This may affect the presentation of products, but not the information and reviews we provide. We do not cover all possible financial offers.
Editorial Standards
Reviews are solely written by our team and represent their personal opinions. They have not been influenced by our advertisers. We maintain a strict commitment to editorial independence and fairness.
Fact Checked
Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.
Fact Checked
Expert Verified
