Provider highlights SIPP TCF dangers

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IFAs must question whether products are real SIPPs, says pension services provider Premier Pension Services (PPS).

The provider's waning comes on the back of concerns expressed by the FSA on widespread SIPP sales which have risen to 250,000 since A-Day. The regulator suggested IFAs select the product based on its ability to offer a wide range of funds, rather than whether it is truly suitable for clients. However, Nigel Manley, head of self-invested pensions at Premier Pension Services, does not blame IFAs. He says: “It seems almost every provider in the market place is turning its pension product into a SIPP because it is the fashionable thing to do. "You have to ask yourself the question, how ma...

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