Due diligence fintech DD|hub has expanded its data services to cover SIPPs.
The free service will initially cover offerings from AJ Bell, Barnett Waddingham, Dentons, IPM, Westerby and YorSIPP, with others being added later.
The company says that the Consumer Duty has increased the requirements on advisers to assess what risks might arise from recommending a provider to a client.
Chris Jones, director of DD|hub and a long-time SIPP specialist, said: “More than 2,000 firms now use DD|hub for investment and platform due diligence and we’re delighted to add SIPPs to the service.”
Key areas covered include:
- Financial resources
- Client asset security
- Governance structure and controls,including risk management
- Their due diligence processes when considering investments or appointing a key supplier
- Information security, cyber crime and data protection
- Consumer duty – delivering the outcomes and value assessment
Existing DD|hub users will automatically get access to the new SIPP services data alongside platform, DFM and multi-asset fund data.
DD|hub launched in 2019. In 2020 compliance support consultancy Threesixty acquired a 50% stake in the business.
