Access to non-standard asset investing in self-invested personal pensions (SIPPs) could be curtailed by the latest Financial Services Compensation Scheme (FSCS) ruling which places liability for investment losses on financial advisers, according to Dentons' Martin Tilley.
The FSCS has said it will begin compensating SIPP investors for losses relating to the investments in three failed schemes - Green Oil Plantations; Harlequin Hotels and Resorts; and Sustainable AgroEnergy. Investors in these schemes were previously being compensated for lost pension growth and charges from their SIPPs. The FSCS said it was now in a position to compensate over the investments themselves as it had decided liability lies with the advisers involved. Tilley (pictured), director of technical services at SIPP provider Dentons, said the news could make advisers more relucta...
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