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About £100m worth of Stadia Sipps schemes will be wound down after Mattioli Woods was appointed to administer the process.
Mattioli Woods increased its Sipp and SSAS funds under trusteeship by £68.5m from May to November last year, it reported this morning, as it eyed further acquisitions.
The founder of a Sipp provider says many retirees will have soured on their plans to invest in buy to let homes after the Autumn Statement.
Sipp provider Mattioli Woods has agreed an £8,300,000 deal to take over SSAS and Sipp administration firm Taylor Patterson.
There will be a shift in the Sipp sector towards firms either restricting their offering to standard assets or offering a full Sipp investment offering including non-standard investments, an industry expert has forecast.
A director at Mattioli Woods has confirmed his firm is holding talks with troubled Sipp providers and the FCA to look at possible solutions ahead of the revamped capital adequacy rules taking effect next year.
Mattioli Woods is to spend nearly £15m to build a new central Leicester office.
A Buckingham based wealth management firm is set to be taken over by Mattioli Woods in a deal worth £7m.
Co-founder of Sipps firm Mattioli Woods, Bob Woods, will step down as executive chairman next year to take on a new role.
A portfolio of 140 Sipp and SSAS schemes with total funds under trusteeship of £83m has been sold for just £1.
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