SIPP and SSAS provider @sipp has appointed Josh Legg as business development manager.

A Shropshire-based pension adviser - an appointed rep of failed firm Tenet Connect Limited - has itself been declared as failed by the Financial Services Compensation Scheme, opening the door to compensation claims.

The FCA has warned SIPP operators over lack of progress over concerns that their actions could lead to “harm to individual consumers.”

The £432m private equity takeover of SIPPs and Financial Planning firm Mattioli Woods is set to complete this week after achieving High Court approval.

The UK’s financial regulators say working together has improved outcomes, particularly in relation to failings by SIPPs operators, the British Steel Pension Scheme scandal and the introduction of Consumer Duty.

SIPP operator Intelligent Money Ltd (FRN: 219473) has entered administration following an upheld complaint regarding some of the investments it allowed within its SIPPs.

Almost £2bn has been lost from UK pension pots and SIPPs since 2019 because of financial advisers and providers going out of business, according to new data from the Financial Services Compensation Scheme.

There was a last-minute surge of activity from SIPP investors at the end of the tax year as they used the week after the Easter bank holiday to max their annual allowances.

More than four in ten retirees (42%) surveyed by Standard Life said they regretted failing to seek financial advice.

The Financial Services Compensation scheme has today declared three financial advice firms as failed, including two SIPP-related and one linked to BSPS.