James Hay profits down 6% year on year

Nicola Brittain
clock •

Self Invested Person Pensions (SIPP) provider, James Hay Partnership, has seen a drop in profits of 6% year on year, according to its parent company IFG, which released full year 2012 results today.

The provider registered profits of £10.3m for 2012, down 6% on the £11.0m it recorded in 2011. Revenues were up slightly at 3%, from £36.6m to £37.7m. IFG said that James Hay Partnership is now in net book growth since it bought the provider two years ago.  Increased take up of SIPPs (at 91% year on year) have contributed to this. The division sold 2,469 SIPPs in 2012 taking the total SIPPs under administration to 37,342 at the year end. The group said that the first-quarter 2013 is showing a further increase in take up. Otherwise, IFG posted revenue of £76.2m against £77....

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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Three former directors sentenced in £70m pension fraud case

Three former directors sentenced in £70m pension fraud case

3,000 people defrauded

Sophia Panayi
clock 04 September 2026 • 2 min read
PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

Consultation closes today

Sophia Panayi
clock 24 August 2026 • 3 min read
Top recommended personal pensions and SIPPs in H1 2026

Top recommended personal pensions and SIPPs in H1 2026

Royal London and Aviva take top spots

Isabel Baxter
clock 12 August 2026 • 2 min read