The Sipp market will ultimately split into two, one of the leading sipp providers has predicted, while another believes platform Sipps will take the majority of business in future.

Experts said they expected consolidation to happen at an increasing pace over the next year, suggesting a struggle may lay ahead for the smaller players as regulatory pressures intensify.
Providers acknowledged that the regulator looks set to take an ever closer eye on the sector following the capital adequacy rule changes and the recent scathing letter to Sipp providers from the FCA.
Jeff Steedman, head of Sipp & SSAS business development at Xafinity, believes there is a clear future emerging for the Sipp market – and one which may have echoes of the past about it.

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He told sister publication Financial Planner magazine: "The Sipp market seems destined to split into two sectors – the platform Sipp product and the full Sipp.
"This is not perhaps dissimilar to the PP and Sipp split a decade or more ago, as the large PP/platform players have sought to associate themselves with the attractiveness of the Sipp proposition.
"We anticipate more acquisitions of businesses that either need capital or scale."
Asked whether the market is likely to grow or shrink, a number of firms said they believed consolidation was probable.
Greg Kingston, head of marketing & proposition at Suffolk Life, said: "The 'traditional' Sipp market – the providers that started it all – has reached saturation point and is unlikely to grow any further.
"Platform Sipps, with greater digital functionality and access to other tax wrappers, will take the majority of new business in the future. The new business coming in to the more bespoke Sipp operators will be offset by the business they lose to these providers. This lack of growth will continue to drive consolidation."
Claire Trott, head of technical support, at Talbot and Muir, agreed consolidation seems likely before capital adequacy changes.
She said: "This may be in part because some providers are unable to sustain their current business model, but in a lot of cases, it will be those that do not see Sipps as their core business that will be looking to exit.
"The implications on providers with small books of business, who previously just saw their Sipp as an add on, may not feel tying up the capital needed to continue to run the Sipp book is worth their while.
"We have already seen this from some providers, which have clearly been in negotiations for some time."