Will Self, the CEO of major SIPP provider Curtis Banks since 2019, has left the company with immediate effect.

SIPP provider Curtis Banks has reported a modest 4.7% rise in pre-tax profits to £14m as SIPP numbers fell year on year by 2,544.

SIPP provider Curtis Banks is to raise SIPP fees substantially in a major overhaul of its charges and the interest it pays on SIPP cash accounts.

Curtis Banks has become a sponsor of rower Victoria Evans who is attempting a world-record solo row across the Atlantic.

SIPP provider Curtis Banks Group has revealed increased profits and assets in its interim results for the six months to 30 June.

The firm increased pre-tax profits by 14% from £4.8m in 2018 to £5.4m.

Meanwhile assets under administration rose by 9.6% from £25.1bn to £27.5bn.

Other highlights included:

Operating Revenue increased by 6.7% to £24.5m (2018: £23.0m)

Interim dividend of 2.5p per share (2018: 2.0p)
 
Will Self, chief executive of Curtis Banks, said: “This is a solid set of results for the first six months of 2019 with the period under review showing an increase in our key financial metrics.

“Once again, the Group has continued to grow profitably and maintains a high proportion of quality recurring earnings which demonstrates the resilience of our business against some current headwinds in the SIPP industry and wider marketplace.

“Through initiatives to stimulate both organic and inorganic growth, as well as successfully diversifying revenues by broadening our capability to commercial property clients, we have navigated the first half of 2019 extremely well.

“I am confident and excited about our prospects for further growth.”