Concern some self-invested personal pension (SIPP) providers rely on creaming interest from their clients' bank accounts is ‘overstated' and actually part of a well-established SIPP business model, providers have said.
Earlier this week, Finalytiq's Abraham Okusanya told delegates at the Retirement Planner Forum that SIPP providers are currently taking up to £50m a year in interest from their clients' cash accounts and...
£1bn business since inception
Considered doing so in 2015
Client communication considerations
Aviva: ‘We are sorry’
FOI from Professional Adviser