A J Bell's SIPPcentre adviser registrations have risen by 44% in the twelve months to September 2008, compared to the same period in 2007, as savers fear market volatility.
Registrations received in the last three months are 98% up on 2007 figures, the firm says.
Current volatile market conditions had their part to play in the rise as they are forcing people to think more carefully about their savings and how they invest their existing pension funds, A J Bell says.
The firm believes many people are reviewing exiting arrangements to ensure they can improve their own position for charges, service and investment choice.
Increased interest in SIPPcentre has also been driven by increasing the range of permitted investments from January 2008 and the introduction of a segregated cash facility for protected rights in May 2008, it says.
A J Bell believes its proposition to offer investment of protected rights transfers from 1 October, across the full range of SIPPcentre investment options, is another selling point.
Billy Mackay, marketing director of A J Bell, says it is no secret the demand for self-investment of protected rights has been huge.
"SIPPcentre provides access to the investment flexibility you would normally associate with a traditional SIPP. Alongside this, our competitive fee structure, reputation for service and online functionality makes it an ideal home for pension consolidation”.
The A J Bell Group has 32,000 individual SIPPS and over £8bn assets under administration.IFAonline
Head of UK intermediary distribution
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