SIPPs offer excellent investment choice and are undoubtedly good value for some clients, however the FSA has made it clear that the extra charges must be justified on the basis of the individual client's needs. So do clients really need SIPPs, or are they just the latest thing to have, asks Fiona Tait? The FSA's recent review of the quality of advice on pension switching highlights some areas of concern. Overall only 16% of the advice given was deemed to be unsuitable, but there was a worrying number of firms within the sample where more than a third of the cases reviewed were deemed to b...
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