Latest Blogs
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James Jones-Tinsley: Guided Retirement Duty could be game changer
During May, the Pensions Policy Institute (PPI), sponsored by The Pensions Regulator (TPR), concluded that defined contribution (DC) pension savers – including those in SIPPs, as well as in Workplace Pensions - require more guidance when choosing suitable retirement products.
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Lisa Webster: Overcomplicated rules are a threat
It may be more than a year since the Lifetime Allowance was formally abolished but issues are still emerging from the mess made by rushed legislation.
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Lisa Webster: To gift or not to gift?
Since the announcement that pensions are to be included in estates for inheritance tax (IHT) purposes the question of whether those with large pension pots should be giving some funds away has become increasingly common.
Popular News
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Barnett Waddingham appoints new CEO of BW SIPP
Pensions and SIPP consultancy Barnett Waddingham has promoted Nick Cooper to be CEO of BW SIPP, as the business says it enters a new phase focused on market growth.
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502,000 claim back £1.5bn overpaid tax on pensions
New figures published by HMRC reveal that the total number of claims for overpaid tax on pension withdrawals has soared above half a million to 502,000 to total almost £1.5bn reclaimed since the introduction of Pension Freedoms in 2015.
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IHT liabilities rise 12% to £6.7bn as 13% more deaths taxed
IHT tax liabilities created in 2022-23 were £6.7bn, up £0.71bn or 12% compared to the previous year.
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SIPP administrator Nucleus poaches new CFO from FNZ
Platform group and SIPP and SSAS administrator Nucleus Financial Platforms has appointed FNZ chief financial & commercial officer Andrew Ring as chief financial officer, subject to regulatory approval.
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Petition demands 10-day pension switch guarantee
Retirement specialist PensionBee has launched a petition demanding the government take action on pension delays as frustration mounts over the slow pace of pension transfer switches.
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State pension gender gap ‘almost eliminated’
The gender pension gap has been almost completely eliminated when it comes to the state pensions of people retiring today, according to new data.
PK Wealth has made its Managed Portfolio Service – Active Approach available for external advisers looking to outsource part of their investment proposition.
The results for the half year to 30 June revealed continued growth with an 18% increase in new SIPP cases and a 58% increase in SSAS cases for the same period in 2018.
Meanwhile, assets under administration increased to £2.86bn and projected current year EBITDA was £1.8m with a 20% increase in the number of advisers using the firm.
Recurring income now represents 88% of turnover.
The firm says the SIPP and SSAS sector continues to be competitive with advisers using them for not only their complex cases but also for single asset or DFM options.
Despite the change of direction of some SIPP providers towards the platform market, Talbot and Muir says it is benefiting from “the vacuum left behind” and has benefited from a “growing number of Introducers who prefer the open architecture and personal service of a ‘pure SIPP’ which is often a cheaper solution than offered via a platform”.
Brian Talbot, director, Talbot and Muir, said: “We pride ourselves on our service and the value of our products and unlike some of our larger competitors we are making a genuine profit.
“We believe that the SIPP and SSAS sector will continue to grow but that there is likely to be more consolidation and we remain acquisitive for good quality books of business that will enhance our position as a leading independent provider.
“We have doubled the size of our office space, having recently moved to a new 10,000 square feet office within Nottingham city centre.
“The new space is contemporary, open-plan and will enable us to continue growing as we appoint new staff to ensure service levels are maintained.
“We are upgrading our back office systems with Delta which will continue to improve the portal functionality and client/adviser reporting that we offer.
“There has been a 20% increase in the number of new advisers using us for the first time as they look to review their SIPP and SSAS administrators to ensure they remain committed to the market and are continuing to innovate and invest in their businesses.”