The FCA has told MPs that a ban on unregulated property investments in Sipps would be disproportionate. It would be very interesting to poll IFAs on the issue because some advisers feel very strongly that this would be an intervention too far. Others are tired of helping clients try and get some money back from deals that have gone wrong and there is always the matter of the FSCS bills.
Money Marketing also reports that claims against the Lifetime Sipp company have trebled in a month.
Meanwhile, MM’s resident controversialist Nic Cicutti argues that advisers are nothing like financial journalists contrary to a previous view by Paul Lewis. Writing as a fellow journalist, I must say that for once in my life I agree with Cicutti. That’s never happened before.
Pension advisers have seen their PI fees rise around 21 per cent in the last six months.
Old Mutual Wealth and Standard Life remain the most popular platforms among advisers for retirement purposes according to research from NextWealth and Richard Parkin Consulting. They prefer Standard again, Aviva and FundsNetwork for accumulation.
Citywire reports that Theresa May has gained acceptance for soft Brexit from the Cabinet. Time will tell if anyone breaks ranks though it is clear that not everyone is happy in Conservative party ranks. Nor in British business.
The Times (behind paywall) reports that flat rate pension taxation is once again under consideration by Treasury officials to fund the NHS. We’ve been here before but that was before the promise of a £20bn boost.
Your reviewer canvassed views on this from advisers for Professional Adviser a few weeks ago.