Frustrated advisers say SIPP due diligence 'not difficult'

Proper SIPP due diligence is a straightforward task, say frustrated advisers

Carmen Reichman
clock

Due diligence on self-invested personal pension (SIPP) transfers is a straightforward task that should not be incurring the wrath of the regulator, advisers say.

The Financial Conduct Authority (FCA) is warning advisers - not for the first time this year - about complying with its rules on pension transfers to SIPPs. It said it had found widespread "serious and ongoing failings" among advisory firms, particularly relating to the due diligence performed on the SIPPs' underlying assets. Advisers were too frequently focusing on the suitability of the wrapper, rather than the investments, it concluded. Advisers have expressed frustration at the poor actions of some in the market, declaring that proper SIPP due diligence was not a difficult task...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pensions minister Torsten Bell: 'Together, we are going to finish the job'

Pensions minister Torsten Bell: 'Together, we are going to finish the job'

Bell was reappointed to the pensions minister role in the government reshuffle

Holly Roach
clock 27 July 2026 • 1 min read
Pension adequacy – are we focusing on the wrong measure of success?

Pension adequacy – are we focusing on the wrong measure of success?

'The current system can unintentionally create a false sense of reassurance'

Caitlin Southall
clock 24 July 2026 • 4 min read
Transfer changes 'a start, not the finish line', pensions industry says

Transfer changes 'a start, not the finish line', pensions industry says

Clear and practical guidance ‘essential’ to apply the new framework consistently and with confidence

Jonathan Stapleton
clock 23 July 2026 • 4 min read