SIPP provider and wealth manager Mattioli Woods has welcomed a decision which could pave the way for compensation pay-outs to investors who used a failed SIPP firm.
Three SIPP operators have been declared in default by the FSCS after 150 claims were received, the body announced today.
SIPP provider Curtis Banks's annual trading update for the year ending December showed with an increase in total SIPP numbers of 8,798 to 76,474.
Normally the end of the year is quiet in terms of changes to the pensions industry, but 2017 bucked this trend with a very sensible move by the Scottish government.
Pension transfers into SIPPs dominated the pension transfer market in 2017, latest industry figures show.
Pension investments rose by 66.3% year on year in the third quarter to hit £13.4bn fuelled by transfer business, particularly transfers to SIPPs, according to analysis from intermediary database provider Equifax Touchstone.
When SIPPs were created in Chancellor Lawson’s Budget speech back in 1989, the world was a different place. We were pre-financial crisis, pre-simplification, pre-freedom and choice and less engaged with saving for the long term, in part due to the pensions industry having been dominated by DB schemes.
Crypto currency may sound like something from a science fiction movie or Series 11 of Doctor Who, which will see Jodie Whittaker become the first female Doctor, but the reality is investors are piling a lot of money into these vehicles.
SIPP and platform provider James Hay has seen revenues drop by £1.4m, in disappointing results for the first half of the year.
Talbot and Muir will merge its SIPP and SSAS businesses from October after receiving FCA approval.