Better Business: IFAs have been warned on SIPPs

During 2008 the FSA carried out a review of pension transfer business, which focused on client cases which had been moved from existing pension arrangements into both personal pensions and SIPPs since A-Day. The Thematic Review was designed to appraise whether client interests were being served by the transfers, and sought to interrogate the role of both the IFA and the pension provider. One of the main concerns was clients were being unfairly caught up in the IFA and provider clamour to jump onto the SIPP bandwagon. Review findings The FSA review culminated in the production of a r...