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Former Elevate IFA distribution head resurfaces at Sipp provider

Business-People-Walking-Motion-Leaving-700x450.jpgSelf-invested personal pension provider Curtis Banks has hired former Axa Wealth and Elevate IFA distribution head Dave Stratton as its sales director, as a trading update for the company reports a £4bn increase in assets under administration.

Stratton was in charge of moving Elevate to Standard Life, following the acquisition in 2016. According to his LinkedIn profile he left Elevate in June 2017.

Stratton says: “When looking for my next challenge, it was important to find a forward looking firm that has a clear strategy and vision for the future, Curtis Banks fitted that bill. Curtis Banks have been at the forefront of the sector, growing quickly but without impacting on service and product development.”

Curtis Banks profits up 85% after Suffolk Life buy

Curtis Banks also released a trading update this morning ahead of its 2017 full-year results being announced in March. Those results will be the first to include full-year figures for Suffolk Life, which Curtis Banks acquired in May 2016.

The trading update says new Sipps for the year were 8,798 and overall Sipp numbers increased to 76,474.

Assets under administration reached £24.7bn, which was an increase on the 2016 result of £20.4bn.

Chief executive Rupert Curtis says: “2017 has been a year of building on our already strong foundations and aligning the Curtis Banks and Suffolk Life operations, as well as achieving high organic growth. We have made significant progress and are now well-placed to drive the business forward in 2018.”


Sipp transfers up 30% year-on-year

Self-invested personal pension transfer volumes are up 30 per cent year-on-year, according to figures published by Origo. The data from the firm’s Options Transfers service shows overall transfer volumes are up by 15 per cent on 2016 with £31bn transferred from January to December 2017 compared to £24bn the previous year. Sipps are the biggest […]


FSCS ups fees by £24m over Sipp claims

The FSCS has announced it will raise an additional £24m in the 2017/2018 year due to an increase in Sipp-related claims. While the six-month average cost of each Sipp-related claim has reduced from £30,000 to £23,000 over the last year, the number of claims has risen 4 per cent. There was also an increase in the overall […]


Suffolk Life defeats client complaint only IFA could understand Sipp deal

A Suffolk Life client has lost his claim that he needed adviser-level knowledge to understand the firm’s Sipp deal after it acquired a collapsed discretionary fund manager. A client complained to the Pensions Ombudsman that he had to undertake 10 hours of “financial adviser type work” to understand how Suffolk Life was working with European Pensions Management Limited after […]


Suffolk Life acquires collapsed Sipp firm

Suffolk Life has acquired the book of business of a collapsed Sipp firm for an undisclosed sum. The deal to acquire European Pensions Management includes 5,000 Sipps with a value of around £630m. It takes Suffolk Life’s total number of Sipps to over 30,000 and total assets under administration to almost £10bn. European Pensions Management […]


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