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...
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