More than half of advisers - 55% - believe there will be fewer than 65 self-invested personal pension (SIPP) providers operating in two years' time and 41% think the total could fall to lower than 50, according to Dentons Pension Management.
The figures mean advisers believe about half of the SIPP firms in operation today will disappear over the course of the next two years. While the figures point to predicted consolidation in the market 100% of advisers believe they will write more SIPP business this year and 42% predict they will write more small self-administered scheme business. More than 50 advisers were polled at Dentons annual seminar held last month. Centre for Policy Studies research fellow Michael Johnson spoke at the event which covered a number of areas including why saving matters, barriers to trust and s...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
