SIPP providers 'favour prisons over private equity'

clock

More than a fifth of SIPP providers are still not allowing consumers freedom of choice over where to invest two years after A Day, research suggests.

A study conduced by private investment syndicator Hotbed found 21% of providers refuse access to private equity, but may allow investment in prisons and hotels. It says this is despite the Government relaxing the rules on SIPPs two years ago to allow alternative investments such as unquoted companies. In addition, Hotbed says more than half of the SIPP providers that do permit access to private equity claim unquoted companies has been a growth area for them. “Not allowing investors to exercise their own freedom of choice within the rules set down by the Government undermines the whole co...

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 Investment

Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read
Schroder Investment Solutions expands distribution of MPS

Schroder Investment Solutions expands distribution of MPS

Expanding the range of DFM choice on the Parmenion platform

Ayesha Venkataraman
clock 06 December 2022 • 2 min read