Suffolk Life will no longer accept self-invested personal pension business which comes direct from the public.
The company says it has made the decision so it can concentrate its efforts on the development of its adviser sipp business, adding it believes post A-Day the adviser market will become even more important. Suffolk Life says the need for advice will increase despite the new “simplified” regime, adding it will be particularly true of the SIPP market, where the tax implications related to options on investments and on taking income are so complicated, that for the vast majority of people advice will be essential. It adds the decision to no longer accept direct business is also clear evide...
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