Sipp
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Thursday, 17 May 2018 10:50
7IM launches zero annual fee own-brand SIPP
Seven Investment Management (7IM) has become a pension provider this week by launching its own Self Invested Personal Pension (SIPP) with no annual fee on accounts above £75,000.
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Thursday, 17 May 2018 10:38
AJ Bell boosts profits by 24% in record performance
Platform and SIPP provider AJ Bell has today announced a profits surge of 24% in its interim half-year results, its most profitable ever it says.
The firm reported “strong growth” for the six months ended 31 March, which, as well as increasing profits to record levels, included a 12% rise in customer numbers from 164,557 to 183,482 and a 5% increase in assets under management from £39.8bn to £41.8bn .
Elsewhere in the report highlights included:
· New business growth with net platform inflows of £3.5bn, up 17% (H1 2017: £3.0bn)
· Customer retention of 95%
· Revenue increased 16% to £42.9m (H1 2017: £37.0m)
· An interim dividend payment of 14p per share, a 10% increase compared to the interim dividend last year (H1 2017: 12.75p)
In the period the company launched two new income-focused multi-asset portfolios within its Managed Portfolio Service (MPS) for financial advisers, as well as a new Lifetime ISA.
Preparations for a listing on the London Stock Exchange “later in 2018 or early 2019” were said to be “progressing well.”
Andy Bell, chief executive of AJ Bell, said: “These are the most profitable interim results in our history and are a great endorsement of our strategy and market position.
“The UK retail investment and savings market continues to display strong growth and investment platforms are central to this.”
“We are well placed to continue our growth trajectory and are progressing well with our plans for a premium listing on the London Stock Exchange later this year or early 2019.”
The firm reported “strong growth” for the six months ended 31 March, which, as well as increasing profits to record levels, included a 12% rise in customer numbers from 164,557 to 183,482 and a 5% increase in assets under management from £39.8bn to £41.8bn .
Elsewhere in the report highlights included:
· New business growth with net platform inflows of £3.5bn, up 17% (H1 2017: £3.0bn)
· Customer retention of 95%
· Revenue increased 16% to £42.9m (H1 2017: £37.0m)
· An interim dividend payment of 14p per share, a 10% increase compared to the interim dividend last year (H1 2017: 12.75p)
In the period the company launched two new income-focused multi-asset portfolios within its Managed Portfolio Service (MPS) for financial advisers, as well as a new Lifetime ISA.
Preparations for a listing on the London Stock Exchange “later in 2018 or early 2019” were said to be “progressing well.”
Andy Bell, chief executive of AJ Bell, said: “These are the most profitable interim results in our history and are a great endorsement of our strategy and market position.
“The UK retail investment and savings market continues to display strong growth and investment platforms are central to this.”
“We are well placed to continue our growth trajectory and are progressing well with our plans for a premium listing on the London Stock Exchange later this year or early 2019.”
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Friday, 11 May 2018 12:52
Doubts over planned auto-enrolment increase
An expert has expressed scepticism over whether a planned rise in auto-enrolment contributions will actually take place in April 2019.
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Wednesday, 09 May 2018 12:46
Investors launch legal bid against SIPP firm
Investors have launched legal action against Liberty SIPP over allegations it cost them money through risky investments.
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Tuesday, 08 May 2018 12:09
Fairstone adds Sipps provider to its buy out programme
Chartered Financial Planning firm Fairstone signed up London-based Premier Portfolio Financial Services to its downstream buy-out programme.
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Tuesday, 01 May 2018 11:19
SIPP firm launches new commercial property businesses
SIPP operator Curtis Banks is further expanding into the UK commercial property market with the launch of two new companies.
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Tuesday, 24 April 2018 11:06
Morton Fraser named as legal services provider for SIPP firm
Morton Fraser has been named as the provider of legal services in Scotland, for SIPP provider Rowanmoor.
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Monday, 23 April 2018 11:48
SIPP firm announces new website enhancement
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Thursday, 12 April 2018 11:07
SIPP firm's best ever year sees assets grow to £2.64bn
Liberty SIPP has posted its strongest ever year of growth with it now having £2.64bn assets under administration.
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