Talbot & Muir is looking to acquire Sipp books as providers debate the viability of the capital adequacy rules
Oliver Bowler, business development consultant, said some Sipp books were "going quite cheaply" as firms shut up shop.
There are 90-100 Sipp providers currently but there are also around another 100 smaller firms which have a Sipp arm.
Mr Bowler said firms were considering the worst-case scenario for the capital adequacy rulings and deciding against taking the risk.
If the proposals from the Financial Conduct Authority are unchanged, firms would have one year to find a minimum of £20,000 in capital plus extra if the firm has non-standard assets.
He said: "There's opportunites out there as some Sipp books are going quite cheaply. Some firms only have around 200-300 Sipps on their books and these are in our targets.
"But we need to look at what's on their books and go through the book of business. It can be a long process as you're checking it's quality business."
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Mr Bowler said previously it was easier for smaller firms to add on a Sipp arms as Sipps were unregulated.
"Pre-2007 it was a lot easier to set up and run one and a lot less compliance. But compliance costs have soared since they became regulated so it became a lot more difficult to set one up. I don't think people would want to anyway and many who did have already got rid of them."
It has been forecast there will only be around 20 Sipp providers left in five years time but Mr Bowler said he was unsure if this would happen and estimated the figure would be around 40-50 providers.