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James Hay warns of inappropriate Sipp investments

James Hay is warning of the rise of “off the page” Sipps, expressing fears that people who don’t need Sipps are taking them out as a result of aggressive marketing.

Research in conjunction with Pensions Management shows one in eight providers do over a quarter of their SIPP business directly with consumers, raising the possibility of a rise in non-advised pensions investment decisions.

James Hay propositions and e-commerce manager Chris Smeaton says concerns remain that people are investing into Sipps inappropriately.

He says: “Since A-Day, the rise in commoditised Sipps has lead to the proliferation of ‘Diet Sipps’ – Sipps with low charges offering limited functionality.”


Out of context

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Private Health Partnership acquires Home Countries Healthcare

The Private Health Partnership has acquired the medical insurance portfolio of Home Counties Healthcare. This is PHP’s 7th acquisition since becoming part of Skipton Building Society group in November 2002. The HCH portfolio contains a large number of corporate clients and group leavers with premium income around £4.4m which takes PHP’s total annual premium income […]

Standard & Poor’s president quits amid criticism over sub-prime crisis

Standard & Poor’s president Kathleen Corbet has quit with immediate effect “to pursue other opportunities” following the recent criticism of ratings agencies for failing to see the sub-prime mortgage crisis coming.McGraw-Hill, S&P’s parent company, insisted that Corbet had left to spend more time with her family and that her departure was not related to any […]

EConveyancer adds West Brom Building Society to online system

eConveyancer has added West Brom Building Society to its online system.West Brom is using eConveyancer within its branches to enable staff to locate and instruct a conveyancer on behalf of their clients and then monitor the conveyancer’s progress thereafter. Sales director Alan Dring says: “We’re delighted to be making eConveyancer available via the branch network […]

Investment Forum

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