SIPP sales prove IFAs adopting fee-based model - Axa

According to a study conducted by Axa Winterthur, six in 10 IFAs currently run a commission-based business but a third intend to increase their fee-based capabilities over the next 12 months. Axa Winterthur says the shift is reflected in sales of its fee-based SIPP The One from Winterthur. It says the offering, launched in November last year, is now outselling its more traditional personal pension product. According to Axa Winterthur, this is a direct response to the current market turmoil, with over 75% of advisers being hard-hit by the economic downturn - a quarter of these claiming...