Most people who have a self-invested pension believe they can outperform the investment professionals, according to a Barclays poll.
The Sipp industry is benefitting from the collapse in confidence among the public towards investment professionals.
According to Barclays Stockbrokers, people are now showing a tendency to invest their retirement savings themselves - because they believe they can do better than the professionals. A poll from the firm showed that 54 percent of Sipp investors want to "take control" of their own investment decisions, while 89 percent believe that they can outperform the average pension fund manager.
The wealth management industry has taken a battering over recent months, with many savers seeing their funds lose significant chunks of their value as a result of the credit crunch. One result of this downwards trend is a "flight to safety" - with equities and bond investments being liquidated and turned into cash savings or even put back into ultra-safe gold bullion.
However, Barclays suggested that there is also another group of investors, less risk-averse, who are staying in the stock market but are taking control for themselves.
Barbara-Ann King, head of investments at Barclays Stockbrokers, said: "As we continue to experience volatility in the financial markets it is encouraging when investors who have the necessary experience and skills take control of their pension savings and take a bullish approach to shaping their retirement. It is important that people plan sufficiently for their retirement and by taking control of their pension investments they can proactively work towards getting the best returns, which is increasingly challenging in the current environment."
