Neglect Assist solicitors tell BBC News that unregulated advisors are an increasing problem
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Neglect Assist senior solicitors Pradeep Oliver and Tim Hampson made an appearance on BBC News to discuss the prevalence of SIPPs being abused to accommodate unsuitable esoteric investments recommended to pensioners by firms of unregulated advisers.
Oliver advised that this was an increasing problem and underlined the importance of all pensioners to seek advice from a properly authorised financial adviser.
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Some SIPP operators have entered into dealings with third party advisers who are not authorised and regulated by the Financial Conduct Authority to give pension or investment advice. This is despite their regulatory body publishing alerts and giving warnings against such actions.View More