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Alliance Trust to suspend sales of its full Sipp

Alliance Trust is to temporarily suspend sales of its full Sipp from Friday.

The provider says the move will allow it to focus on strengthening the service it provides its 7,000 existing full Sipp clients. The product will be off the market until further notice.

Alliance Trust is best known for its select Sipp, which is sold direct to consumers as opposed to the full Sipp, which is distributed through advisers.

The select Sipp, which represents around half of the provider’s pensions sales, will continue to be sold as normal as will the firm’s select Isa and investment plan.

An Alliance Trust spokesman says: “Alliance Trust will cease to take on new full Sipp members to allow us to focus on strengthening the administration service we provide to our existing full Sipp pension members until the completion of our improvement work. We will continue to provide a full and comprehensive service to our existing full Sipp pension members.”

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