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Nearly 3,600 consumers have been compensated for wrongly being advised to switch savings into ‘risky’ assets within SIPPs – at a cost of £105m.
Platform and Sipp provider AJ Bell has appointed as its new technical director a man who has previously “locked horns” with chief executive Andy Bell over technical issues.
Taylor Patterson has promoted two members of staff within its SIPP and SSAS pensions’ team.
AJ Bell, the Sipp and investment provider, has urged the Financial Conduct Authority to make the disclosure regime for pension and investment products clearer.
The Financial Conduct Authority has identified a number of pension areas where ‘intervention’ may be necessary following the introduction of the pension freedoms in April 2015.
Pension transfer values continued to show considerable volatility in the second quarter of this year and decreased by 3.7% in June during the month.
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