The FCA’s ‘Retirement Outcomes Review’ policy statement has come under fire from SIPPs specialists.

PK Wealth has made its Managed Portfolio Service – Active Approach available for external advisers looking to outsource part of their investment proposition.

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.

There has been unprecedented change in the pensions industry in recent years and SIPPs have been no exception. 

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

Earlier this month Partners Wealth Management held a financial eduction event for students which taught the basics of Financial Planning.

The Financial Services Compensation Scheme (FSCS) paid a total of £473m in compensation to 425,760 customers of failed firms during 2018/19, it has been revealed.

STM Group raked in £2.7m in profits from its acquisition of Carey Pensions earlier this year in what it classed as a bargain purchase.

The Financial Services Compensation Scheme (FSCS) has today declared The Lifetime SIPP Company Limited in default.