In all the broo-ha-ha surrounding SIPPs, I wonder how many people have really thought through the risks. I can see a field day for salesmen flogging these schemes but leaving the headaches for professionals to pick up.
The thing that seems to be catching attention is the ability to put works of art and second homes into the pot. Apart from any nasties around anti-avoidance, what folk don't seem to realise is the exit requirement to liquidate those assets. What happens if the axe falls at a time when the market is weak? Can you realistically plan sufficiently far in advance to avoid market swings? What about those assets that clients have come to view as 'their' property?