Suffolk Life passes 20,000 Sipps milestone

Suffolk Life has confirmed it has reached 20,000 Sipps under management. The business said the biggest growth came from its SimSipp product which has been running for over two years.SimSipp is a single investment manager Sipp where all investments (excluding cash) are transacted by discretionary fund manager.The firm has also seen growth from consolidations in the Sipp market following increased regulatory pressures.Will Self, managing director at Suffolk Life, said: "Organic new business levels have remained consistent throughout 2013, with little evidence that the RDR has impacted adviser recommendations. Our recent acquisitions have also delivered high levels of new business and we'll continue this strategy into 2014 and beyond."{desktop}{/desktop}{mobile}{/mobile}Greg Kingston, head of marketing and proposition, said: "Strong, profitable growth allows us to continue to invest in the development of our proposition to meet the changing needs of the market."Advisers have responded well to the new Sipps we've launched over the past couple of years and I expect to work closely with them and a variety of different investment partners to bring further enhancements over the coming months."

Suffolk Life passes 20,000 Sipps milestone

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