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

Mind the gap: Why advisers have a key role in closing the gender pension divide

Mind the gap: Why advisers have a key role in closing the gender pension divide

'While access to pensions has improved, barriers remain'

Julia Peake
clock 22 October 2026 • 5 min read
Planning points: Paying pension funds to charity on death

Planning points: Paying pension funds to charity on death

IHT on pensions may create opportunities for charitable giving

Martin Jones
clock 16 October 2026 • 3 min read
Torsten Bell: Pensions industry must 'give ground' to what savers trust

Torsten Bell: Pensions industry must 'give ground' to what savers trust

Torsten Bell says what the industry is doing is a ‘triumph’, but there must be transparency

Holly Roach
clock 15 October 2026 • 1 min read