PensionsMay 23 2013

Sipps business boom in Q1 for James Hay

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The company’s interim management statement showed total Sipps under administration rose by 506 from December to 37,848 by the end of March.

It also stated that a further 483 Sipps were added to the firm’s books in April.

Saunderson House, the IFA arm of IFG Group, also won 43 new clients in the first three months of this year, compared with the 100 new clients the firm gained in the whole of last year.

Mark Bourke, chief executive of IFG Group, said: “While the near-term outlook for earnings growth is constrained by the effect of prior-year attrition and the lag effect of new business in James Hay Partnership along with investment spend and the low profitability of our non-core businesses, we are confident of delivering growth in the medium term.

“As stated previously, we will continue to invest in our core advisory and administration business. Our balance sheet strength, proven management team and recognised brands give us a unique opportunity to fulfil the potential of our business.”


483 - number of Sipps added in April to James Hay books.