Sipp provider Talbot & Muir is to stop all non-advised business when the new pension freedoms come into effect on the 6 April.
The firm says it has been moving away from execution-only business but has now decided to run all future business through advisers.
However, existing clients will be able to continue sending contributions direct.
The firm says: ”Over recent years we have steered away from taking non-advised business direct from clients but we have decided that now is the time to cease entirely.
“From the 6 April 2015 and in line with our strong support for the adviser community, we will only take business where advice has been given by FCA regulated financial advisers. This includes all transfers and in-specie contributions, we will however continue to accept contributions direct from existing clients.
“The pensions landscape is complex and we believe that clients will experience the best outcomes where they are suitably advised by the right people, FCA regulated advisers.”
Talbout & Muir principal Graham Muir says: “Our focus in the SIPP market has always been on promoting our products and services via high quality advisory firms that share our passion for service delivery and technical support.
“The pensions landscape continues to alter at a pace and what is clear to us is that our support for the adviser community is yet more highly valued as a result. Our direction of travel therefore is very firmly focussed on helping advisers to deliver excellent consumer outcomes and we believe that, in the complex framework of Sipps, this can best be achieved by devoting our resources solely to advised business.”