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Growing numbers of complaints about Sipps have been blamed for a jump in the levy advisers will have to pay next year.

The Financial Services Compensation Scheme has reported receiving more than 500 claims relating to Sipps.

The threat of a further levy hangs over advisers due to increased compensation linked to Sipp claims.

Sipp related claims against financial advisers who are no longer trading have continued rising, The Financial Services Compensation Scheme said today. 

The volume of compensation claims relating to advice given to consumers to switch from conventional pensions to a Sipp is growing rapidly according to the Financial Services Compensation Scheme.
An investigation looking at possible compensation claims against an advisory firm is to hone in on its actions on Sipps.
The Financial Services Compensation Scheme is considering whether it will be involved in compensation for clients of HD Administrators.
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