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There has been a flurry of corporate results in the last few months from SIPP providers that have shown an increase in revenue due to the increase in SIPPs being set up due to the large number of DB transfers to SIPPs.
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Financial services providers have pledged to provide more support to victims of financial abuse with the introduction of a voluntary Code of Practice.
Cross-border financial firm STM, the owner of London & Colonial, is to acquire the majority of rival SIPP firm Carey Pensions for £400,000 as Carey prepares to tackle a major SIPPs court case.
Punter Southall Aspire, the savings and workplace pensions business, has acquired JDP Financial Services, a firm of independent Chartered Financial Planners based in Bedford, for an undisclosed sum.
Xafinity SIPP Services has reported strong annual growth with assets under administration hitting £2bn but warns that the SIPPs sector is standing on a “precipice.”