Suffolk Life takes over Pointon York SIPP

The mutually agreed acquisition comes after Pointon York decided to close the scheme to new business. David Hobbs, managing director of Suffolk Life, said "Suffolk Life has been committed to the self-invested pension market for over 40 years and we have made no secret of our intention to grow our business both organically and via the right acquisitions. The Pointon York book of business fits well into the bespoke end of our proposition and should add around 1,700 additional SIPPs." Suffolk Life also said it will use retained profits for the purchase and remains "strongly capitalised" ...