IPS Partnership sees business increase in 2009
Self-invested personal pension (Sipp) provider IPS Partnership saw an increase in new business during 2009, despite what it described as "extremely tough market conditions".
Sipp business increased by 17 per cent compared with 2008 figures - taking the total number of Sipp products to more than 8,000 - while new small self-administered schemes increased by 23 per cent.
Richard Mattison, business development director at IPS, said new business volumes had been helped by the launch of two new products.
He said: "In addition, in the autumn we launched two new Sipp products, IPS Corporate Sipp and the IPS Family Sipp.
"The interest shown by the professional adviser in these products for their clients is very encouraging and we believe will provide significant opportunity for growth in 2010 and beyond."
The news follows the firm's acquisition of James Hay from Santander at the end of last, year it expects the regulator to approve the takeover in the coming weeks.
