Dentons Pensions Management has launched two SIPPs as part of its 2009 expansion plans.
The firm also confirmed it is looking to acquire SIPP books and smaller rivals as part of its growth strategy.
Dentons is launching a Flexible SIPP, which permits use of the scheme pension method to mitigate a major tax burden on death for those aged over 75.
In addition, it will add a simplified SIPP to its range for those who wish to use a single discretionary portfolio manager and benefit from lower charges. The simplified SIPP can also be upgraded to a full SIPP later.
The new products will be launched in the second quarter of 2009, when Dentons also plans to look at opportunities to grow through acquisitions.
Martin Tilley, business development manager at Dentons, says the SIPP market will undergo major consolidation in 2009 due to concerns over low interest rates, transparency and legislative changes.
"Market and legislative changes are also increasing regulatory burdens, which typically increases costs," explains Tilley.
"For instance, costs associated with protected rights transfers can be burdensome in such areas as segregating and managing protected rights, particularly for income generating assets such as commercial property, which are complicated and require significant resources."
Contact: John Bakie, Tel: 020 7484 9805, e-mail: [email protected]IFAonline
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