IPS freezes fees on Sipp product for one year

Richard Mattison, business development director of the Sipp specialist, said the move was designed to support advisers and clients that had suffered from asset value volatility over the past year.

He said: "We are fully committed to supporting the IFA community. Freezing fees will bring welcome relief to clients.

"We want to do what we can, not only to provide the highest levels of service and administration, but to continue do so at a competitive rate."

Mr Mattison said the move to freeze charges was part of its commitment to Treating Customers Fairly and supporting IFAs uphold their own obligation to principles.