Pension investments rose by 66.3% year on year in the third quarter to hit £13.4bn fuelled by transfer business, particularly transfers to SIPPs, according to analysis from intermediary database provider Equifax Touchstone.
SIPP and platform provider James Hay has seen revenues drop by £1.4m, in disappointing results for the first half of the year.
Talbot and Muir will merge its SIPP and SSAS businesses from October after receiving FCA approval.
The Financial Conduct Authority last month identified a number of pension areas where ‘intervention’ may be necessary following the introduction of the pension freedoms in April 2015.
AJ Bell, the Sipp and investment provider, has urged the Financial Conduct Authority to make the disclosure regime for pension and investment products clearer.