Former James Hay duo Richard Mattison and Jane Davies have bought Manchester-based pension provider Whitehall Group.
It was set up by a Stockport firm of chartered accountants in May last year to target the SSAS sector. The SSAS pricing structure aims to mirror a low-cost Sipp, with a set-up fee of £250 and a £250 annual admin charge.
Mattison (pictured) says: “The last 18 months has seen the SSAS market increase in popularity and rather than being the dead duck many have considered them to be, SSASs are enjoying a new lease of life.
“The ability to make loans to and buy shares in sponsoring employers, together with the ability to pool resources in a more flexible environment to purchase commercial property from businesses and release cash to the company, has seen them attract far more attention from advisers than during the bull market.”
Mattison was previously business development director at James Hay while Davies was a business development manager.
Evolve Financial Planning director Jason Witcombe says: “There are some strong arguments in favour of using an SSAS, particularly when looking at more esoteric investments, but I am not convinced they will be used in high volumes.”