IFG Group, the owners of SIPP company James Hay Partnership, has announced a £400,000 loss in the last year, compared to profits of £6.4m for 2016.
James Hay could be facing a tax penalty of £20 million over the biofuel investment Elysian Fuel.
SIPP and platform provider James Hay has seen revenues drop by £1.4m, in disappointing results for the first half of the year.
Pensions provider The Embark Group has snapped up one of James Hay’s executive team and announced three other senior appointments.
James Hay is fighting an HMRC charge of nearly £2million in connection with a probe into a non-standard investment.
James Hay bosses say they are focused on “getting the basics right” on service but acknowledged there was “some way to go”, as the firm reported an adjusted operating profit £7.1 million.
James Hay is overhauling its charges, it revealed this morning, with some fees set to be axed and a new structure established.
James Hay has revealed it is banning a long list of Non-Standard Investments for new customers.
James Hay has appointed a new boss from rival platform provider FNZ.
James Hay Partnership has boosted its sales department with the addition of new platform consultants as well as appointments to its strategic account manager and business development manager teams.
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