Suffolk Life, the self-invested personal pension specialist, has stepped away from pro-active acquisitions of other providers due to the quality concerns.
The provider which has almost 25,000 SIPPs under administration valued at more than £8bn. Suffolk Life has completed four acquisitions of SIPP back books in the past three years. However, it said it was moving away from this business strategy growth and would focus on "higher quality, more sustainable business through organic growth". Due to the shift in strategy its strategic partnership director responsible for SIPP acquisitions Chris Jones has left the Legal & General-owned business. SIPP industry consolidation has been an ongoing theme in the market for several years. The Fi...
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
