John Moret: The SIPP road less travelled

'And the rest is history...'

clock • 3 min read

John Moret, affectionately known as the godfather of SIPPs, shares his insight on the last 21 years in pensions and advice - beginning with the backstory on a deal which could have changed the face of the SIPP market...

It's almost exactly 21 years since I experienced the biggest disappointment in my business career. At the time I was CEO of Personal Pension Management Limited (PPML) a SIPP provider that, along with James Hay, was based in Salisbury. At the time the two firms dominated the SIPP market with over 70% market share. At PPML we had agreed a private equity-backed MBO - only to be thwarted at the last minute when the owners, Winterthur, refused to sell. The PE backers had also been talking to James Hay with the intention of merging the two companies. Had that deal gone ahead I genuinely bel...

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