Many SIPPs recommended by IFAs to clients are not true SIPPs, George Ladds, head of investment and pension research at Fair Investment Company claims.
While recommendations of self-invested personal pension plans (SIPPs) are increasing, Ladds expresses his concern that some products marketed as SIPPs are misleading consumers. He says: "I am not particularly surprised that SIPPs are being recommended so often by IFAs because they do have a wide appeal, but I do have one word of warning; many ‘SIPPs' are just glorified personal pensions with extended fund choice championed by the provider. "True SIPPs are ones that give investors freedom across all asset classes including, for example, passive and active funds, ETFs, structured produ...
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