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Tuesday, 11 May 2021 08:28

Number of SIPP providers falls to decade low

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According to Defaqto, on 1 April 2020 there were 79 providers with 129 SIPP products, a small but significant fall from the previous year According to Defaqto, on 1 April 2020 there were 79 providers with 129 SIPP products, a small but significant fall from the previous year

The number of providers in the SIPP sector has fallen to its lowest level in nearly a decade due to a wave of mergers and takeovers, according to new data.

Both provider and product numbers are at their lowest levels since 2012, data produced for the latest issue of Financial Planning Today magazine, out later this week, reveals.

Since the start of 2020 there has been a fall in the number of SIPP products and providers, despite there being a steady growth in numbers prior to 2020.

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