Suffolk Life has been awarded Investor in Customers (IIC) accreditation for the second time. The self invested personal pension (Sipp) provider says the award does a lot to recognise the importance of customer service, especially in view of the recent suspensions of some SIPPs due to poor service standards by the particular providers.
They were first company to be awarded the IIC when it was established in 2006, and to support the award they say that high service levels are vital for both advisers and clients, and says recent problems for some SIPP providers highlights the need for investment in customer service.
Recently, Alliance Trust decided to close its SIPP due to poor administration and poor service standards, and the Freedom SIPP was suspended after the Financial Services Authority (FSA) said its service levels were not up to scratch.
John Moret, of Suffolk Life, stated that they always endeavour to take the time to research the service experience with the many advisers that have used them. The personal service they offer has helped Suffolk Life achieve the healthy business results that it has to date.
A Sipp is arguably a sophisticated product, not as simple as getting annuity quotes, and annuity rates, and specialist advice should be taken, as it should with the various pension options available.
