Almost half of adviser firms are planning to stick with their chosen SIPP provider three months after the introduction of SIPP regulation on 6 April, according to research by Merchant Investors, a pensions and investments provider.
This is despite a third of advisers not being informed by their provider about future changes in the weeks leading up to the FSA’s regulation of the SIPP market. During that period, 14% of adviser firms dealt with providers without knowing whether or not they had applied for regulation. The survey also found almost 60% of advisers feel confused about the impact of regulation. Following regulation more than half of advisers expect the SIPP market to shrink or consolidate while 22% expect it to grow. A quarter of adviser firms expect the type of SIPP business they write to change. A tot...
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