August 13, 2007 / 7:30 AM / 12 years ago

Press bigger influence than advisers on SIPP awareness

LONDON (Citywire) - Press reports have a bigger impact on people’s decision to take out a Self Invested Personal Pension than financial adviser recommendations, according to a survey by CoreData Research UK.

The survey interviewed more than 1,000 consumers with above average wealth.

Of these 47 percent said that reading about SIPPS in the press was most likely to influence their decision on taking out a SIPP, 39 percent would find out about SIPPS online and 36 percent would be most influenced by financial adviser recommendations.

Awareness of SIPPS was found to be relatively low with just under half of the respondents claiming to have heard of the product and less than a quarter already owning a SIPP.

c Citywire Financial Publishers Ltd 2007.

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