"Understanding SIPPs & Fractional": AIPP hosts fully booked member event
AIPP hosted a highly successful member event on Thursday, attended by 40 industry professionals. “Understanding SIPPs and Fractional” was an afternoon seminar presented by experts in their field, Guy Tolhurst of Intelligent Partnership and Nick Turner of The Registry Collection, providing education and insight into SIPP and fractional products.
“In today’s climate, businesses need to be proactive and respond to changes in consumer demand,” said Mark Sharp, AIPP’s Chief Executive. “Part of our role is to help educate our members about new business opportunities. Many international real estate professionals will have heard the buzzwords ‘SIPP’ and ‘fractional’ banded about, and we wanted to provide an introduction to these products and how they relate to our industry”.
Following Guy’s introduction to how property works in a SIPP, and what to look out for before taking on a SIPP product – including security of investment and return, responsible commission levels, and trustee approval – Nick Turner provided an overview of the opportunities for real estate professionals in the shared ownership arena, and an introduction to different marketing strategies.
“Selling fractional ownership is more complicated than whole ownership, so it’s important to ensure that the planning stages are followed robustly,” commented Nick. “Management of the scheme is also key. Most buyers of fractional are lifestyle investors, and hassle free ownership is a key selling point.”
The afternoon concluded with a Q&A panel discussion with a number of fractional experts, including sales & marketing specialists, a legal expert and two trustees. Fractional products fall into either FSA regulations, or the EU shared ownership directive, and real estate professionals should be aware of the regulations governing the industry before selling any fractional products.
For more information about this event or forthcoming events by the AIPP, contact us on +44 (0)20 3207 9095.