'Ill-equipped' advisers risk mis-selling sipps

The advisory firm, which operates on a fee only basis, says it is concerned about the way sipps are being packaged and marketed to the consumer, as it argues many in the industry insist on treating sipps as a product rather than as the tax-wrapper which it is. SGWM says “in its quest to find a more lucrative pension arrangement to sell or to transfer into", the industry is “already selling Sipps to people who don’t need them and under-delivering the benefits they can provide to those who do”. As the Financial Services Authority (FSA) prepares to take over the regulation of personal pens...