SIPP complaints jump to 'record high' in last 12 months - FOS

In its annual review published this morning (15 May), the Financial Ombudsman Service (FOS) said it received 3,811 new complaints about SIPPs in the 2018/19 tax year, up from a little more than 2,000 in 2017/18. The ombudsman said two thirds of SIPP complaints were brought to it by a third party, such as claims management companies and law firms, which is up a third from the previous financial year. Meanwhile, around 60% of the SIPP complaints bought to the FOS relate to provider due diligence, while 15% are related to the advice given to transfer to a SIPP and invest in unregulated c...