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A former international cricket captain will manage Sipp investment portfolios as part of his new role at a Financial Planning firm.

Complaints and compensation claims about advice relating to Sipps will continue to rise, with an extra 500 cases predicted for the next financial year, the FSCS warned today.

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

A ruling from the Pensions Ombudsman regarding a Sipp could make it harder for providers to stop customers from transferring to possible scam schemes, an expert believes.

A senior figure at a Sipp provider fears that a failure to clarify the new capital adequacy rules could lead to worried firms going too far in an attempt to meet requirements and therefore end up increasing costs for clients.

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