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There will be 'dismay' among those working in the Sipp sector, a key figure at Barnett Waddingham says, after an FCA fired a broadside over 'unacceptable' widespread failings.
A levy on regulated financial services firms will pay for the Government's pledge of free, impartial retirement guidance, the Treasury confirmed this morning.
The FCA has today sent a damning letter to all Sipp operators telling them there are still widespread failings which put consumers' pension savings at "considerable risk".
There are over one million millionaire retired households in the UK, new analysis has shown.
Two people working at Sipp firms could be facing enforcement action from the Financial Conduct Authority.
A pensions firm has reported the trend towards including commercial property in new Sipps has continued, with a further increase this year.
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