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Curtis Banks has predicted the Budget pension reforms will have a beneficial knock on effect on the Sipps sector as it announced today that its profits have more than quadrupled to £3.4 million.
The Budget pension reforms led to about £15m of annuity sales at Legal and General being cancelled, the company reported today.
A newly appointed pension technical manager is set to take up his role at a Sipp firm later this month.
The Tax Incentivised Savings Association will hold two workshops covering key aspects of Sipps for professionals who are new to the sector.
Demand for drawdown via Sipps and SSAS will grow as a result of the Budget, a specialist firm has predicted.
A study into the bulk annuity market has shown there were fewer big hitters in the UK last year but researchers predict more firms will enter.
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