SIPP applications received in June by SIPPcentre were up 62% on the same period last year, parent firm A J Bell announced today.
Total applications received in Q2 were 42% higher than in 2007 which shows SIPP business is booming despite volatile market conditions. A J Bell attributes the rise in business to advisers and clients reaping the benefits of transparent low cost charges, the ability to accept protected rights, on-line functionality and access to a range of investments including multiple fund supermarkets. Billy Mackay, marketing director at A J Bell, says: "As you would expect the current conditions are encouraging investors to be very careful about how they invest their money. “These figures show that...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes