The FSA are a disaster.
The Financial Services Act is a joke.
Most of the tied or IFA's I have seen are rubbish.
The life companies are totally crap. You need the 40% tax relief to make up for their incompetence.
You also needed the dividend tax credit to provide any kind of growth in the fund and thanks to that fat, smug, inept tool, Gordon Brown, this has been removed.
A low cost SIPP is the only way to go.