SIPP providers 'failing clients'

Research conducted among Hotbed’s members found this problem to be particularly prominent for unlisted companies and where clients are seeking to invest in syndicated commercial property investments. It found that 50pc of those with SIPPs had had investments refused by their SIPP provider – in all cases this was because their proposed investment was an unlisted company. Gary Robins, chief executive of Hotbed, said: “This makes a mockery of the concept of self-invested personal pensions, which, after all, are meant to allow investors to build investment portfolios of their choosing.” ...