FAQs
About MES
How long have you been offering SIPPs?
We have offered SIPPs since November 2022, following FCA authorisation. MyExpatSIPP is delivered through an online platform designed to keep administration straightforward and transparent.
Do you have any client reviews or written/video testimonials, and where can I view them?
We publish verified client reviews via Reviews.io on our website. This feedback covers clients’ experiences of our service and support.
What is your FCA registration number?
Our Financial Conduct Authority firm reference number is 805568. You can confirm our authorisation by searching the FCA Register for MES Financial Services Limited.
What countries will you accept applications from clients in?
We accept applications from many countries, subject to our anti-money laundering and identity checks. We do not accept applications from FATF high-risk jurisdictions, and we may apply enhanced due diligence for FATF grey list jurisdictions.
About the MES SIPPs
Can I make regular contributions into my SIPP?
You can make regular personal and employer contributions to your SIPP. Tax relief on personal contributions is only available if you meet HMRC’s relevant UK individual conditions, and we cannot provide tax advice.
What type of investments do you allow in the MyExpatSIPP?
You can invest in standard, liquid investments such as exchange traded funds, investment trusts, and UK-authorised unit trusts and OEICs, as well as ready-made options. You control your investment choices on the platform, and investments can go down as well as up.
What type of pensions can be transferred to MyExpatSIPP?
We accept transfers from defined contribution pensions and many personal and workplace defined contribution schemes. We do not accept defined benefit or final salary transfers into MyExpatSIPP.
What type of pensions can not be transferred to MyExpatSIPP?
Defined benefit or final salary pensions cannot be transferred into MyExpatSIPP. These transfers are only considered through our advised MES Pensions route and only where the advice is to transfer.
How long does it typically take to process transfers to the MyExpatSIPP?
Transfers typically take four to 12 weeks, depending on the existing provider’s timescales and any additional checks. You can see progress updates in your online account, and we will let you know if anything is needed from you.
What is the difference between the MES SIPP and MES Essentials SIPP?
The MES SIPP lets you choose from a broad range of standard, liquid investments, including ETFs, investment trusts, and UK-authorised unit trusts and OEICs, plus ready-made multi-asset options. The MES Essentials SIPP uses a default investment for people who do not want to select their own investments, currently the ActiveLife Climate Aware 60 to 70% Equity Fund, Income share class, via Vanguard. Investments can go down as well as up.
Do you offer a SIPP option specifically designed for US-connected clients or US expats?
We do not offer a US-specific SIPP proposition and we do not target US-connected clients. US tax and reporting rules can be complex, so you should take specialist guidance on your own position.
Can advisers use discretionary fund managers (DFMs) within the MES SIPP?
MyExpatSIPP is a direct-to-client proposition and does not support discretionary fund managers within this service. If you require discretionary management, it would need to be arranged outside MyExpatSIPP.
Which DFMs and investment platforms are available within your SIPP?
MyExpatSIPP does not offer a panel of external DFMs or third-party platforms. Investments are held and managed within the MyExpatSIPP platform.
Can clients hold cash in the SIPP for extended periods, and are there any interest rates?
You can hold cash in your SIPP and you can use multiple currencies, currently GBP, USD, EUR and AUD. Interest on cash is variable and can change over time. Holding large cash balances for long periods can affect long-term outcomes.
Are there any prohibited or restricted investments in the MES SIPP that I should be aware of?
We only allow standard assets as defined by the FCA, meaning assets that can be valued accurately and are readily realisable. We do not allow non-standard or illiquid holdings such as unlisted shares, UCIS, overseas property, or other esoteric assets.
What currencies can be held or used within the SIPP?
You can currently hold and transact in GBP, USD, EUR and AUD within the SIPP. We may add additional currencies over time.
Are there any specialist investment options available for international clients?
Our SIPP is designed around FCA-defined standard assets rather than specialist or illiquid investments. If you need access to non-standard assets, this proposition is unlikely to be suitable.
Can advisers set up automatic rebalancing or model portfolios within your SIPP?
MyExpatSIPP does not currently offer automatic rebalancing or model portfolio tools. If you prefer not to choose and manage investments yourself, the MES Essentials SIPP uses a single default investment.
Does MES allow clients to appoint their own investment manager or adviser?
MyExpatSIPP is designed for clients who manage their own investments on the platform. We do not currently support appointing an external investment manager or financial adviser within this proposition.
Onboarding, Transfers & Administration
What is your typical onboarding process for MyExpatSIPP?
The application is completed online and is paper-free in most cases, and you will provide personal details, any transfer details, beneficiaries, and proof of address dated within three months. We complete electronic ID verification using your passport and a liveness check, and signatures are only needed if your existing provider requires them.
Do you support digital or DocuSign-style applications for overseas clients?
You apply online and we do not require signed paperwork unless the transferring scheme requests it. Identity and address checks are completed digitally using your passport and a proof of address dated within three months.
What information is required when submitting a new SIPP application?
You apply online and we do not require signed paperwork unless the transferring scheme requests it. Identity and address checks are completed digitally using your passport and a proof of address dated within three months.
How do you carry out due diligence and anti-money laundering checks on clients based abroad?
We verify identity using electronic checks on government-issued passports, including biometric face matching and liveness detection. We also screen for sanctions and politically exposed persons, check adverse media, and carry out ongoing monitoring for changes in risk.
What is the expected turnaround time for opening a SIPP for an overseas client?
Your SIPP is usually opened instantly once you complete the application and pass our AML and identity checks. If enhanced due diligence is needed, we may ask for additional information and this can extend the timeline.
How do you handle transfers from multiple pension schemes into one SIPP?
We can request transfers from multiple pension schemes into one MyExpatSIPP. Transfers are handled by our New Business Team either electronically through the Origo Transfer Service or by paper, depending on the ceding scheme’s requirements.
Can I track the progress of a client’s transfer online?
You can track transfer progress through your online account. We provide live updates every two weeks and will prompt you if anything is required.
What are the most common causes of delay in overseas pension transfers, and how do you help avoid them?
Delays usually happen because ceding schemes have their own due diligence steps and processing times, which can be longer for overseas clients. We set expectations at the outset and contact you quickly if the provider asks for additional information or signatures.
Fees & Charges
What are your SIPP set-up fees, annual fees and transaction charges?
Our fees are published and include a set-up fee, an annual administration fee, and dealing and other transaction charges where they apply. You only pay the charges that apply to your account and activity.
How do your fees compare with other expat-friendly SIPP providers?
Our fees are unbundled and transparent, which can make them easier to compare with other expat-friendly SIPP providers. Whether we are cheaper or more expensive will depend on your balance and how often you trade, so comparisons should be made on a like-for-like basis.
Are there additional charges for clients living in higher-risk jurisdictions?
We do not accept applications from jurisdictions classified as high-risk, and applications from grey list jurisdictions may require enhanced due diligence. If an application is accepted, we do not currently charge an additional fee purely because of the client’s jurisdiction.
Do you offer adviser charging (initial, ongoing, or ad-hoc), and how is this facilitated?
MyExpatSIPP does not currently facilitate adviser charging for initial, ongoing, or ad-hoc fees. Any fees you pay to an adviser are arranged outside the SIPP.
Compliance, Risk & Suitability
Is the MES SIPP protected by the Financial Services Compensation Scheme (FSCS)?
Eligible clients may be covered by the Financial Services Compensation Scheme if the firm fails, subject to FSCS rules and limits. The level of protection can depend on the type of claim and the underlying arrangements.
What happens if something goes wrong or a client has a complaint?
If something goes wrong, contact the MyExpatSIPP Support Team first so we can investigate and resolve the issue under FCA complaint-handling rules. If you remain unhappy after our final response, you can escalate the complaint to the Financial Ombudsman Service.
Are there additional charges for clients living in higher-risk jurisdictions?
If something goes wrong, contact the MyExpatSIPP Support Team first so we can investigate and resolve the issue under FCA complaint-handling rules. If you remain unhappy after our final response, you can escalate the complaint to the Financial Ombudsman Service.
How can I check your FCA registration and authorisation?
You can verify our authorisation on the FCA Register using firm reference number 805568 for MES Financial Services Limited. This confirms we are authorised and regulated to operate our pension proposition in the UK.
How do you measure client satisfaction?
We track verified customer feedback and publish reviews via Reviews.io, and the published rating is currently 4.9 out of five. We also send client surveys to identify where we can improve our service.
How do you ensure your SIPP remains compliant with FCA rules when working with international clients?
MyExpatSIPP is a UK-registered pension scheme operated under FCA rules and HMRC legislation, even if you live overseas. We apply Consumer Duty and relevant FCA conduct and client money rules, including keeping assets appropriately segregated.
What due diligence do advisers need to complete before recommending the MES SIPP?
We do not provide guidance on an individual adviser’s due diligence obligations. Advisers remain responsible for assessing suitability and meeting their own regulatory requirements when recommending any pension product.
How do you monitor investments for appropriateness and risk for expat clients?
In MyExpatSIPP you select and manage your own investments, and we do not monitor them for suitability. We restrict what can be held to FCA-defined standard assets, but investments can go down as well as up.
Do you notify advisers if a client’s chosen investment becomes non-standard or high-risk?
We only allow FCA-defined standard assets on the platform, so non-standard investments are not available to buy. If an asset is removed or its status changes, we update availability on the platform and communicate any operational impact.
Are there any jurisdictions where advisers should exercise additional caution when recommending your SIPP?
We do not accept applications from FATF high-risk jurisdictions, and we assess some jurisdictions on a case-by-case basis with enhanced due diligence. Advisers should also consider any local regulatory requirements and cross-border restrictions that apply to their client.
Service, Support & Adviser Relationship
Do you offer a dedicated relationship manager for advisers with expat clients?
MyExpatSIPP is a direct-to-client proposition and does not provide a dedicated relationship manager for advisers. Clients receive support through our standard service and platform communications.
What service levels (SLAs) can advisers expect for transfers, payments, or query responses?
We aim to process payments within five working days once all due diligence checks are complete. We usually respond to emails within 48 hours, although complex queries may take longer.
How do you support advisers who are dealing with complex cases or unusual client circumstances?
MyExpatSIPP does not offer an adviser support service for complex cases, as it is designed for direct clients. If a case requires regulated advice, it may need to be handled through an advised route instead.
What tools or resources do you provide advisers to help explain the MES SIPP to expat clients?
We do not currently provide adviser-specific tools or resources within MyExpatSIPP. The platform provides product information and online transfer tracking for clients managing their own SIPP.
How often do you review and update your SIPP products?
We review our SIPP proposition on an ongoing basis to reflect regulatory requirements and service improvements. When we make material changes, we update the relevant documentation and notify clients through our usual communications.
How do you keep advisers informed about regulatory changes that may affect expat clients?
We do not provide an adviser update service through MyExpatSIPP. Where regulatory or operational changes affect the SIPP, we update our terms and product documentation and communicate changes to clients.
Retirement, Benefits & Ongoing Management
Can clients living overseas start taking benefits from the MES SIPP?
If you live overseas, you can still take UK pension benefits from your SIPP under the usual UK rules. We can pay benefits to a non-UK bank account in your name, and we may use open banking verification where available to confirm ownership.
Are there any restrictions on paying benefits to me in foreign bank accounts?
We can pay benefits to a foreign bank account as long as it is in your name. You will need to complete our online bank verification process, which may use open banking where supported.
Can advisers manage drawdown for clients living abroad?
MyExpatSIPP does not currently provide an adviser-managed drawdown service, as it is a direct-to-client proposition. Clients manage their own drawdown instructions through our process.
What tax considerations should advisers be aware of when clients take benefits overseas?
Tax treatment depends on UK pension rules, your country of residence, and any double taxation agreement that applies. We cannot provide tax advice, and tax outcomes depend on individual circumstances.
How do you support advisers whose clients are returning to the UK after living abroad?
MyExpatSIPP does not provide an adviser service for clients returning to the UK. Your SIPP remains a UK-registered pension and you can continue to hold it as your residency changes, subject to our ongoing AML requirements.
What happens to the SIPP on the client's death, especially for clients living outside the UK?
On death, your SIPP can usually be paid to your nominated beneficiaries as a lump sum or through beneficiary drawdown, subject to UK pension tax rules. Beneficiaries living overseas may also face local tax reporting or tax charges, and we cannot provide tax advice.