View more on these topics

Standard sees 82% surge in Sipp sales

Standard Life sales of Sipps soared by 82 per cent in the first half of the year, boosting UK life and pension sales by 45 per cent.

Standard’s interim new results report shows individual Sipp sales up by 82 per cent to £2.55bn compared with £1.41bn in the same period last year.

Total UK life and pension sales rose to £6.95bn from £4.8bn while Standard Life Investments’ net inflows in the UK rose by 54 per cent to £4.3bn from £2.8bn.

Standard says 149 IFA firms are now using its wrap compared with 88 firms at the start of the year. The wrap has 4,300 individual customers with an average fund size of £140,000. Funds under administration on the platform have increased to £0.6bn from £0.2bn since last December.

Group pension sales rose by 49 per cent to £1.48bn from £995m, which Standard says is largely due to increasing volumes of group Sipps which account for 31 per cent of group pension sales, equating to £461m.

Sales generated through channels other than tradit-ional IFAs represent 40 per cent of new business compared with 26 per cent last year.

Group chief executive Sandy Crombie says: “Sales have benefited from the increase in contribution limits introduced at A-Day and the implementation of new Sipp regulations.”

Recommended

Derek lines up dominoes

I am about to sell a substantial investment but am concerned about the tax implications. Is there anything I can do to offset the capital gains tax liability?

L&G appoints Bupa’s Martin Noone

Legal & General has appointed Martin Noone as protection sales director.Noone previously ran Bupa’s individual protection and group risk sales operation as well as heading up its customer service operation and will now be responsible for enhancing L&G’s presence in the protection market through the IFA sector.Intermediary distribution managing director Duncan Crocker says: “As the […]

PFS and IFP must work together

The nonsense being spouted by Tim Eadon cannot go unchallenged. The PFS needs to adopt an honest, descriptive title for chartered members before it can begin to be taken seriously and gain respect. The title chartered financial planner is a misnomer for many holding it. There is nothing in the syllabus which calls upon an […]

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com