Following so much interest from last year, is there any chance you can post an update on when we might get the T212 SIPP?
Thanks
Hey @Shriroop,
It is still within our future plans yet we can not give you any time frames. Nevertheless, youāll be the first one to know, once we have more updates.
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@Team212 We are in Q3 2021 and still no update about the SIPP launchā¦?
Hi
Any updates on launching SIPP
Hey @Swat 
Weāre certainly considering to expand our portfolio of services in that direction, however, the launch of an SIPP is not in our immediate plans. Weāll keep you posted.
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Which directly contradicts some of the messages by your t212 earlier in this thread! Very strange that it has gone from early 2021 to no immediate plansā¦
plans are always open to change. that doesnāt matter if you are an individual or a company. when you say ācontradictsā, how many months back are you quoting?
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Of course plans can change but it is a pretty strange situation that even as recently as Q4 2020 we were being told to expect SIPPs in early 2021 to just over year later being told no immediate plans.
If SIPPs were in progress late 2020 for an early 2021 launch then work must have been underway otherwise an early 2021 launch would never have been realistic. That is a very strange about turn for something as important as SIPPs (which drive large chunks off asset management).
When the FX fee was introduced we were promised exciting new features which Iām struggling to think of much that is exciting.
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you know whatās actually strange? people forgetting that the world situation keeps changing and that has a knock-on effect across all industries and to all people as individuals in various ways. we donāt know how many people at T212 got ill/passed during the multiple waves of the pandemic, we also donāt know how many of those were on the specific teams assigned to various projects that were set to be released at the beginning of the year. but it doesnāt matter whether or not we know.
my workplace also had āplansā (not started, just plans) for the beginning of 2021 and now we are told it would be lucky if half of those plans are ready for mid 2022, in part that is due to us losing half our workforce in a short span of time and in part due to the pandemic interfering with partner businesses. plans donāt always work out and the earlier update in May had already said the SIPPS were without ETA before the one made by B.E today so there is no sudden āabout turnā.
Sure, they gave a target date based on those plans, but unless they actually start implementing them, they are not confirmed final dates.
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Most folk here only seem to want a roadmap so they can throw shade at 212 when they miss deadlines.
SIPPs are important only to some investors in UK.
With Brexit happening in 2021, the T212 focus was shifted to the creation of a new T212 legal entity and trading platform for all the EU investors, due to the political and regulatory constrains that had arise from the Brexit disruption.
Between creating a new feature (SIPP) including UK onboardings and a possibility of heavy fines from financial regulators, the T212 choice was obvious.
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I take deadlines with a large pinch of salt unless I see something that indicates the work/changes have already begun on an official level. My workplace has been meaning to upgrade our systems since I joined them 4 years ago, not one of those system improvements have yet to be implemented and now there is talk that the reason why is because they are instead planning to overhaul the entire interface to be more integrated (after previously saying they werenāt going to do so because they can just get the current interfaced updated by a third party soonerā¦).
They are just now implementing changes that match suggestions I made 4 years ago. T212 by comparison are far more responsive and have been forthcoming about wanting to improve in months with new features rather than complete radio silence for years.
As a staff member of my company I donāt get a roadmap to the improvements schedule and planned features, what use would it be to complain as a single client among millions about not getting that same roadmap?
Most folk only want indications that something previously promised is likely to happen in some sort of reasonable timescales!
Most people understand (and are very tolerant) that businesses change and priorities change, timescales slip but how you communicate all that matters.
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Fair point but why not clearly communicate all of that?
SIPPs are a significant driver of customers and assets in the UK. Fortunately there are other good choices from t212ās competitors so it is far from the end of the world if t212 have put them on the back burner.
Any updates on this?..
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Any timescale for SIPP release? Is it being worked on?
Exactly this. I would much rather they communicated and said something. Even if it is something like āwe have run into issuesā or āwe have had to push it back as it is taking longer than we thought it wouldā.
Communication is key imo. I mean I donāt expect weekly updates but at least every few months.
Yeah they tried this before and thereās a lot more bad people then good.
Unfortunately, the masses of salty b*stards spoil it for the rational folk who know plans can quickly change.
We had to prioritise the tasks we were working on, and at this point, SIPP is not within our plans for 2022. Below is what we have prepared for this year- some of the features are already in a testing phase, while others are live:
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Thanks for the update. Really appreciate it.