SIPP firms should help with due-diligence – Moret

Advisers should be given greater access to information on SIPP companies, to help them with due-diligence, according to Suffolk Life.

Launching its own due-diligence guide for advisers, which provides information on the firm's financial stability, procedures in the event of failure and details of HMRC compliance, the firm says more providers should be willing to impart this information to IFAs.

Suffolk Life says unprecedented turmoil in financial markets means investors and their advisers are demanding greater transparency from providers.

John Moret, director of marketing, says: "Investing in a SIPP is an important decision, and one that should have considerable longevity. It is therefore crucial that advisers and their clients have confidence in their SIPP provider, and advisers need reassuring that they are recommending a provider who will act with transparency, integrity and due care."