SIPP advice in FCA's sights with warning to firm CEO

Latest alert on SIPP advice

Laura Miller
clock • 3 min read

The Financial Conduct Authority (FCA) has issued a warning to the chief executive of an advice firm about transferring clients' money into unregulated investments held in self-invested personal pensions (SIPPs).

The alert comes amid rising claims at the Financial Services Compensation Scheme (FSCS) related to SIPP advice, as clients' complaints push firms into default and the bill for compensating them onto the industry. A notice on the FCA's website from 7 December said that the CEO, who is not named, promoted unregulated investments through an unregulated introducer company in which they were a shareholder and director. As a result the individual benefitted financially from both the fees customers paid for the firm's advice on the SIPP transfer, and the commission the provider of the unregu...

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

Case study: The hidden risk of a single member SSAS without a professional trustee

Case study: The hidden risk of a single member SSAS without a professional trustee

The problem, the solution, lessons learned

Caitlin Southall
clock 30 March 2026 • 4 min read
Salary sacrifice protections overturned by House of Commons

Salary sacrifice protections overturned by House of Commons

Commons overturns Lords amendment to increase cap to £5,000 from initial £2,000 proposal

Holly Roach
clock 24 March 2026 • 1 min read
 Rachel Vahey: Advisers and clients still need clarity on NMPA increase

Rachel Vahey: Advisers and clients still need clarity on NMPA increase

'HMRC has had years to clear this up but has sat on its hands'

Rachel Vahey
clock 11 March 2026 • 4 min read