The FCA has launched a consultation on proposed guidance for firms on the fair treatment of vulnerable customers.

SIPPs and SSAS firm Talbot and Muir has boosted assets and SIPPs.

The results for the half year to 30 June revealed continued growth with an 18% increase in new SIPP cases and a 58% increase in SSAS cases for the same period in 2018.

Meanwhile, assets under administration increased to £2.86bn and projected current year EBITDA was £1.8m with a 20% increase in the number of advisers using the firm.

Recurring income now represents 88% of turnover.
 
The firm says the SIPP and SSAS sector continues to be competitive with advisers using them for not only their complex cases but also for single asset or DFM options.

Despite the change of direction of some SIPP providers towards the platform market, Talbot and Muir says it is benefiting from “the vacuum left behind” and has benefited from a “growing number of Introducers who prefer the open architecture and personal service of a ‘pure SIPP’ which is often a cheaper solution than offered via a platform”.
 


Brian Talbot, director, Talbot and Muir, said: “We pride ourselves on our service and the value of our products and unlike some of our larger competitors we are making a genuine profit.

“We believe that the SIPP and SSAS sector will continue to grow but that there is likely to be more consolidation and we remain acquisitive for good quality books of business that will enhance our position as a leading independent provider.
 
“We have doubled the size of our office space, having recently moved to a new 10,000 square feet office within Nottingham city centre.   

“The new space is contemporary, open-plan and will enable us to continue growing as we appoint new staff to ensure service levels are maintained.  

“We are upgrading our back office systems with Delta which will continue to improve the portal functionality and client/adviser reporting that we offer.
 
“There has been a 20% increase in the number of new advisers using us for the first time as they look to review their SIPP and SSAS administrators to ensure they remain committed to the market and are continuing to innovate and invest in their businesses.”

Independent SIPPs operator Curtis Banks has launched a new secure client portal, signalling the latest development of its new SIPP product launched earlier this year – Your Future SIPP.

Transfer volumes through the Origo Transfer Service have increased by 20% year on year between 30 June 2018 and 30 June this year, to over 680k, it has been revealed.

Transfer values fell slightly during June 2019, as the number of DB transfers over the month also fell marginally.

XPS Pensions Group (XPS) has joined the STAR initiative.

Analysis of Government figures by pension and investment firm Aegon has found there are 840,000 retired couples in the UK who have a weekly income which would cost more than £1.15m if bought as an annuity.

Four parking scheme firms, investments in which were sold through SIPPs providers, have slumped into administration.

Mattioli Woods group managing director Murray Smith is to stand down, the firm has revealed today.

XPS Pensions Group has revealed pension changes could lead to a £260bn accounting gap.