Better Business: John Moret on pension transfers

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John Moret, director of sales and marketing at Suffolk Life, examines recent reports from the FSA concerning pension transfers and explains how the industry is likely to change

For advisers operating in the SIPP market, there have been two particularly significant communications from the FSA in recent months. First, there was the well-documented report on the thematic review of the quality of advice on pension switching. The review looked at the quality of advice given to investors since pensions A-day (April 2006) to switch their existing pensions into a personal pension or into a SIPP. Interestingly, Sipps were unregulated until April 2007 – a point apparently not acknowledged in the report. The review has been widely publicised and in the context of the advi...

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