Hargreaves Lansdown clears SIPP fog

Tom McPhail, head of pensions research, pointed out that many SIPPs do not pay high commission and that the prudence and integrity of the servicing adviser should be the focus of attention on advised SIPP sales. He explained: “For any commission driven IFA, a SIPP is not the brightest move. Generally, a conventional personal pension doesn’t need as much servicing. "A SIPP moves the responsibility for investment management from the provider to either the adviser or the client. So, an IFA who sells a SIPP is just giving himself extra work to do, in creating a responsibility that he wil...