Aegon has warned that concerns over investing in unregulated investments could damage how consumers view SIPPs despite few SIPPS allowing unregulated investments.
Complaints about SIPPs to the Financial Ombudsman rose by 37% over the past 12 months but complaints about IFAs fell steeply at the same time, according to FOS data released today.
The AMPS conference in London yesterday featured a warning on the increasing proliferation of ‘ambulance chaser’ companies seeking to press claims against SIPP providers.
The FSCS has defended itself against suggestions it takes a punitive, enforcement approach against those firms deemed in default.
Seven Investment Management (7IM) has become a pension provider this week by launching its own Self Invested Personal Pension (SIPP) with no annual fee on accounts above £75,000.