Parmenion has reported that it has processed nearly 3,000 applications for its in-house Sipp in its first year.
The company said this represented over £200m of assets.
In June 2014, Parmenion launched the accumulation part of its Sipp while work began to develop a suite of drawdown features.
The Sipp drawdown options went live on 7 April, the same day as the pension reforms took effect.
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Richard Goodall, partner at Parmenion, said: “The market is taking a very considered approach to the new pension legislation.
“In the two months since Pension Freedoms, we have processed nearly 200 drawdown Sipp accounts with only a third of those accounts currently taking income.
“We are pleased with the continued ease with which we are able to successfully bring major new developments online.”
As well as lump sum withdrawals, drawdown can be drip fed in any format through the in house Sipp, he said, such as regular payments of PCLS or Uncrystallised Lump Sums along with the norm of regular taxable income.
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Parmenion reports 3,000 applications for in house Sipp
