Into the limelight

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Ian Naismith looks at how advisers should assess client suitability for a SIPP

The FSA review of pension switching, and the subsequent publication of a suitability assessment template, has highlighted that transfers into SIPPs are going to be firmly under the regulatory spotlight for the foreseeable future. The FSA has concluded that as many as one in six pension transfers could have been through bad advice, with a significantly higher proportion for a minority of adviser firms. This raises the issue of how advisers can establish which clients could benefit from self-investment facilities. Such an assessment may be required in identifying clients needing a discussion ...

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