Unregulated relationships should make Sipp firms nervous after Carey

Tom Selby

Tom Selby

Claims management companies will likely ramp up activity in this area, and in all likelihood Financial Services Compensation Scheme costs will increase as a result. Sadly, this will inevitably mean more costs loaded onto regulated parts of the industry, including advisers.

However, where providers have more traditional customer relationships – either with regulated advisers or on a direct basis – the ruling should have little impact.

Tom Selby is a senior analyst at AJ Bell