The Supreme Court has denied permission to appeal in the landmark Adams vs Carey case, effectively ending the long-running saga which questioned provider responsibility when accepting investments into a SIPP.
STM Group, the international financial services provider which owns SIPP firm Carey Pensions, has reported a drop in revenue and profit for the first six months of the year.
STM Group, the international financial services provider which owns Carey Pensions (now known as Options), is to make its chief operating officer Peter Marr redundant in the second half of the year as it downsizes its executive team.
STM Group, the international financial services provider which owns Carey Pensions, has reported a 48% drop in profit before taxation for the year ended 31 December.
The number of providers in the SIPP sector has fallen to its lowest level in nearly a decade due to a wave of mergers and takeovers, according to new data.
Both provider and product numbers are at their lowest levels since 2012, data produced for the latest issue of Financial Planning Today magazine, out later this week, reveals.
Since the start of 2020 there has been a fall in the number of SIPP products and providers, despite there being a steady growth in numbers prior to 2020.
STM Group, the international financial services provider which owns Carey Pensions, has delayed its 2020 year end results following discussions with its auditors after the recent shock Adams v Carey court judgment.
A Court of Appeal Judge has overturned a previous High Court ruling to side with claimant Russell Adams against Carey Pensions in the long-running ‘Adams’ case.
SIPP and cross-border financial services firm STM has expressed “disappointment” at the Court of Appeal’s decision to allow a challenge to the recent ‘Adams’ case judgment.
Pensions administrations business is behind a growth in recurring revenues at the STM Group and a slight increase in underlying revenue for the first half of 2020, however profits for the group have fallen.
Carey Pensions, now know as Options SIPP, has claimed victory in the long-awaited Adams Case over who is liable for SIPPs investments.