SIPP providers urgently need to address their quality of service, according to new research by Liberty SIPP.
In a poll of IFAs, just over half of respondents (51%) said they felt the reputation of SIPP providers has worsened in the past 12 months.
Only a quarter of IFAs surveyed said the reputation of SIPP providers had improved; while the rest felt the industry’s reputation had stayed the same.
When asked about the level of due diligence that they carry out on SIPP providers compared to 12 months ago, nearly two thirds (62%) said they were now much more thorough.
Despite the apparent damage to the perception of SIPPs, the research hints that IFAs are far from falling out of love with the specialist pensions.
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