Pension disclosure regime obstructs good advice - Skandia

Following an FSA report, which suggested some advice firms were unnecessarily switching clients from a personal pension into pricey SIPPs, Skandia says most advisers recognise that SIPP are not suitable for the majority of their clients. A survey commissioned by Skandia indicated most advisers believe a personal pension offers sufficient investment flexibility for most savers. The research revealed that around 71% of advisers say less than one in four of their clients would be suitable for a SIPP recommendation. A further 22% said up to half of their clients might need the flexibility...