View more on these topics

@sipp acquires £150m SSAS book

Business-Handshake-Finance-Deal-700.jpg

Sipp provider @sipp has bought SSAS firm Alfa Trustees for an undisclosed sum.

The deal adds £150m of assets held in SSAS, bringing @sipp’s total assets under adminstration to around £850m.

All Alfa staff will transfer to @sipp as a result.

@sipp managing director Eddie McGuire says: “Today’s deal underlines our strong capital position and signifies our desire to complete further acquisitions which offer complementary services or additional distribution options. The SSAS market is a core component of our growth strategy and this deal complements our existing SSAS expertise, and at the same time, provides wider distribution opportunities in the South East region.

Alfa Trustees director Gill Baynes says: “It was clear that @sipp’s outlook mirrored our own. We believe that aspects such as pension led funding options, enhanced investment flexibility and succession planning opportunities provides the framework for significant growth in the SSAS market.

Recommended

UK-Parliament-Big-Ben-Lamp-700x450.jpg

Govt urged to avoid repeat of Sipp failures on master trusts

The Government is being urged to make good on its promise of “strict criteria” for master trusts, including protection for savers if providers fail. Following last month’s Queen’s Speech, the Government unveiled a Pensions Bill that will add new  restrictions to the schemes, which provide pensions for around four million people. The accompanying document reveals […]

5

Sipps firms should be penalised for lack of transparency

It’s fair to say the Sipp market can be a tad bitchy. When there are that many providers and only so much business, inevitably firms will go out of their way to point out the weakness of their rivals. But a story Money Marketing ran last week produced a new target. Research consultancy Finalytiq’s first […]

DB transfers – one more factor to consider

Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment