The SIPP administration services arm of wealth management firm Montpelier is closed to new business.
Montpelier Pension Administration Services (MPAS) has been put on the back burner as the Montpelier Group considers its new business strategy.
Kevin Wells, managing director of MPAS, says: "As a result of the rapid growth of the MPAS business within the wider Montpelier Group, it has been decided by the directors to review the strategy of the business.
"We appreciate the timing is not ideal given the proximity to the fiscal year end but hope you will bear with us in the short term until a more formal announcement can be made."
The suspension of new business will not affect existing clients' SIPP or SSAS assets and full services for those clients will continue, Wells says.
MPAS, based in Leicester, is part of the larger group Montpelier, headquartered on the Isle of Man. It currently has around 1,200 SIPPs on its books.
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