The majority of financial advisers (85%) believe the number of self-invested personal pension (SIPP) providers will continue to fall in the coming year, according to Dentons Pension Management research.
The SIPP provider polled delegates at its recent annual seminar revealing advisers believe another five or more providers could be swallowed up by rivals. However, they said it was not a significant concern for them. The provider asked the question in light of the recent high-profile court case featuring Carey Pensions. Dentons director of technical services Martin Tilley said: "The results of the survey show that there is a high expectation the SIPP market will change dramatically over the year, with the pending court case results having a huge impact on the whole industry...
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