FundsNetwork says Sipps are increasingly becoming a product for the mass affluent rather than a niche vehicle for high-net-worth clients.
The company’s research shows that a quarter of advisers have grown their Sipp business by 60 per cent or more since A-Day.
Nine out of 10 advisers say the ability to consolidate existing legacy pensions within a Sipp makes it easier for them to advise on overall retirement provision.
FundsNetwork head David Dalton-Brown says the platform now holds a 6.5 per cent share of the UK Sipp market.
He says: “Advisers and their clients have taken to Sipps as a way of bringing an enhanced level of flexibility and choice to retirement planning strategies.”