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 firm reported the number of active Sipps under administration increased by 147% to more than 12,000.
Its assets under administration grew by 400% to more than £5 billion and turnover almost tripled to nearly £9 million.
The SSAS and Sipp administrator was founded in 2009 by Chris Banks and Rupert Curtis and acquired the Sipp business of Alliance Trust Savings in January 2013.
Rupert Curtis, managing director of Curtis Banks, said the 2013 results could be boosted even more this year by the pension changes from the Budget.
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He said: "These results demonstrate that Curtis Banks is now a major player in the full Sipps market and well placed to continue this growth. We offer wealth managers and IFAs amongst the highest levels of personal service in the industry and now have a strong capital base on which to continue to build.
"The year ahead looks to be an exciting one for us. We are exploring further acquisitions in the sector, recruiting more business development managers in Bristol, Dundee and Leicester and are investing heavily to develop our technology systems to offer an increased quality and range of services for our clients."