Liberty nears 10,000 SIPPs as it marks 10th birthday

Liberty SIPP is expecting to hit the 10,000 SIPPs mark in the next few weeks as the business celebrates its 10th anniversary. The Manchester-based company, established by Ian Currie and John Fox in September 2007, currently has 9,766 clients. Strong investment inflows have increased the firm’s assets under administration to £1.95bn, up 18% in three months. The company says the total should pass the £2bn mark by next month.Despite concerns about a slowdown in the SIPP market as regulatory focus increases, Liberty says that the summer months proved to be positive with 315 new SIPPs opened in August.Much of the firm’s new business has come through a growing network of partnerships with platforms and advisers. Liberty now works with 643 advice firms, a 20% increase in six months.The company has one SIPP; the low-cost, transparent Liberty Option SIPP which was introduced in 2013. It charges no set up fee and has an annual management fee of £175 plus VAT.Ten years ago the company employed three people and it now employs 51 staff. It is continuing to increase its capacity as client numbers grow. Since the start of 2017 the firm’s UK-based team of administrative staff has increased by 30%.John Fox, managing director of Liberty SIPP, said: “Over the past 10 years the SIPP world has been transformed, and Liberty has adapted and innovated with it.“A decade of progress and improvement have seen SIPPs shift from being an expensive and niche product to an essential part of every adviser’s toolkit, and everyone at Liberty is proud to be at the forefront of that change.”

Liberty nears 10,000 SIPPs as it marks 10th birthday

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