A fad or a necessity?

SIPPs offer excellent investment choice and are undoubtedly good value for some clients, however the FSA has made it clear that the extra charges must be justified on the basis of the individual client's needs. So do clients really need SIPPs, or are they just the latest thing to have, asks Fiona Tait? The FSA's recent review of the quality of advice on pension switching highlights some areas of concern. Overall only 16% of the advice given was deemed to be unsuitable, but there was a worrying number of firms within the sample where more than a third of the cases reviewed were deemed to b...