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The SIPP sector is facing up to a growing threat from ‘ambulance chasers’ – litigation claims firms trying to encourage clients to make complaints.

Platform and SIPP firm AJ Bell has confirmed plans for a float on the London Stock Exchange next month with the company valued at up to £500m.

Major shareholders Invesco Perpetual and chief executive Andy Bell will have an opportunity to sell down their stakes in the business while broadening the firm’s shareholder base.

Invesco currently has a 44 per cent stake which it is expected to sell down to around 25 per cent.

Mr Bell holds 28 per cent of the business and is expected to retain around a quarter.

AJ Bell says the float would enhance its brand, extend its shareholder group, assist in recruitment and incentivisation and help with its growth strategy.

Police have ended their investigation into STM chief executive Alan Kentish, who was arrested in Gibraltar in October 2017, with no further action.

SIPP-provider St. James’s Place Wealth Management has welcomed another 41 qualified advisers to a new career in Financial Planning.

SIPPs firm Yorsipp is cutting the cost of in-specie property transfers.

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