Financial advisers do not expect today's (October 1) protected rights changes to run smoothly, according to research from Merchant Investors (MI).
The new regulation will allow investors to transfer their protected rights monies into any SIPP and providers have been gearing up for the changes since an initial government proposal in June 2007. However, MI found that 22pc of advisers do not believe their main SIPP provider is ready to accept protected rights while a further 36pc expect administration difficulties. Richard Ellis, head of sales and marketing, said: "We've been working to raise awareness of the ins and outs of protected rights investment for some time now. We conducted research earlier this year which indicated 24pc of ...
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