Latest Blogs
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James Jones-Tinsley: Guided Retirement Duty could be game changer
During May, the Pensions Policy Institute (PPI), sponsored by The Pensions Regulator (TPR), concluded that defined contribution (DC) pension savers – including those in SIPPs, as well as in Workplace Pensions - require more guidance when choosing suitable retirement products.
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Lisa Webster: Overcomplicated rules are a threat
It may be more than a year since the Lifetime Allowance was formally abolished but issues are still emerging from the mess made by rushed legislation.
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Lisa Webster: To gift or not to gift?
Since the announcement that pensions are to be included in estates for inheritance tax (IHT) purposes the question of whether those with large pension pots should be giving some funds away has become increasingly common.
Popular News
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Average annuity value soars 160% in 5 years
The average value of an annuity has soared 160% since 2021, according to newly-published client data from Hargreaves Lansdown.
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IHT on pension pots will hit bank of Mum and Dad
Charging inheritance tax on unused pension funds will create confusion and increase the risk of gifting mistakes for the Bank of Mum and Dad and Gran and Grandad, equity release specialist Key Advice has warned.
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Younger investors bet on property and pensions for retirement
The majority of Millennials (56%) and Gen Z (62%) see a mixture of pension and property as their main retirement asset, according to new research.
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Thousands sign pension-switch petition
A petition calling for a 10-day pension switch guarantee has attracted more than 2,000 signatures in its first two weeks.
PK Wealth has made its Managed Portfolio Service – Active Approach available for external advisers looking to outsource part of their investment proposition.
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.”