Pension disclosure regime obstructs good advice - Skandia

clock

The FSA needs to do its own work to ensure clients receive good pensions advice following its criticism of adviser firms last week, Skandia says.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Advisers place focus on retirement support as providers lack 'meaningful' engagement

Advisers place focus on retirement support as providers lack 'meaningful' engagement

People’s Pension poll shows 54% of IFAs say providers struggle to create ‘meaningful’ engagement

Martin Richmond
clock 19 August 2026 • 3 min read
Pensioner poverty has risen for more than a decade, warns LCP

Pensioner poverty has risen for more than a decade, warns LCP

Single and divorced pensioners most affected and should be focus for future policy

Alex Levy
clock 18 August 2026 • 4 min read
Why reliable SIPP administration matters more than ever

Why reliable SIPP administration matters more than ever

This is a classic 'sledgehammer to crack a nut' response

Rachel Vahey
clock 17 August 2026 • 3 min read