SIPPs are being recommended by over 80 per cent of independent financial advisers, according to financial research company Defaqto.
The company carried out research on the popularity of self invested personal pensions (SIPPs) amongst IFAs advising clients, finding that 86 per cent of advisers specialising in pensions and wealth management had recommended the products.
SIPPs are flexible pension schemes that give investors complete control over investment strategy and the investments in the plan.
David Abbis, wealth management analyst at Defaqto, said: “With IFAs often specialising in specific areas our latest research found that SIPPs have been recommended by virtually all pensions specialists and wealth managers.
“Advisers offering a broader mix of life, pensions and investment advice, were still strong advocates with 82 per cent having recommended SIPPs.”
Defaqto asked 162 advisers specialising in pensions and wealth management.
Abbis said SIPPs were likely to grow in popularity because their ‘open architecture’ was a major appeal for investors.
© Fair Investment Company Ltd
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