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Mattioli Woods appointed to run HD Sipp
In a trading update, the firm said Sipp had around 40 active members and follows appointments to run the Freedom Sipp and the Pilgrim Sipp.
HD Sipp was formerly run by Nottingham-based HD Administrators and the firm was wound up by the Financial Services Authority in June 2012.
The firm also acquired the pensions business of Ashcourt Rowan in April 2013.
Bob Woods, executive chairman of Mattioli Woods, said: "Many commentators have predicted a frenzy of acquisitions as the advisory market consolidates post-RDR. In addition, proposed increases in the regulatory capital requirement for operators of Sipps is driving consolidation in another of our core markets and we were pleased to acquire the pensions administration business of Ashcourt Rowan.
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"Following on from our appointments to the Freedom Sipp and the Pilgrim Sipp, we have worked closely with the Insolvency Service, the Financial Conduct Authority and HM Revenue & Customs to secure the scheme's ongoing viability following the failure of the previous operator."
The firm's assets under administration increased by 20 per cent to £3.6bn. This was due to the additional funds of £302m acquired with Ashcourt Rowan pension business and £113m secured on appointment to run the Pilgrim Sipp. This is in addition to £107m in Mattioli Woods' core pension business.
Full results for the year to 31 May 2013 will be released on 28 August.