More than 50% of advisers are confused about the effects of recent SIPP regulation, claims Merchant Investors.
A survey of 300 financial advisers reveals six weeks after the 6 April deadline, 58% of respondents feel “in the dark” about the regulatory changes, which saw the FSA take over regulation of personal pensions including SIPPs. In addition, the research reveals advisers are confused about which SIPP products and providers are now subject to regulation. A total of 39% of respondents correctly identified trustee-based SIPPs became regulated in April, but 43% were unaware providers of insured SIPPS have been regulated by the FSA for some time. The firm says surprisingly, it is larger firms wi...
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