PII woes force SIPP provider Forthplus Pensions into administration

The SIPP operator had about 2,500 customers, the majority of which were UK expatriates. The business, which had assets under management of around £500m, went bust on 19 October. Insolvency practitioners Leonard Curtis Business Solutions Group is overseeing the administration. The administrators said: "The demise of the company follows a range of factors, most notably the impact of the inability to renew or extend PII." On 1 September, Leonard Curtis said, the SIPP firm announced it would put a hold on accepting new applications while it made arrangements regarding PII. However, aft...