18 December 2008
Following last weeks decision by Alliance Trust to close its
Self-Invested Personal Pension (Sipp) to new business in order to
solve some administration issues, advisers have expressed concerns
that wealthy investors' funds are not being handled properly by
pension providers in general.Some advisers feel that clients
purchasing "full" Sipps (which allow investment in commercial
property, unquoted shares etc) are not receiving adequate and
speedy service from providers, who may be unwilling to spend money
on IT to support buyers through a complex system.
