Pensions  

Top 10 Sipps by assets under management revealed

Standard Life has topped the table for self-invested personal pension (Sipp) assets under management, according to Money Management research.

The latest MM Sipps survey, published in the October edition of the publication, showed that, of 53 operators that responded, Standard Life took the top spot with £21.5bn in assets under management spanning 170,000 Sipps.

The company recently announced a restructure of its charges, which it said would result in a drop in costs of up to 16 per cent for Sipp investors holding more than £200,000. It also claimed second place in the MM rankings for levels of new business over the past 12 months, setting up 17,167, behind only Hargreaves Lansdown at 25,000.

Article continues after advert

Although the two companies are similar in terms of total Sipp numbers – with Standard Life holding 170,000 and Hargreaves 146,000 – the demographic of the books are very different, with average values of £125,014 and £69,000 respectively.

Other Sipp operators exceeding £10bn in assets under management include AJ Bell and James Hay.

Top 10 Sipp providers by assets under management
ProviderTotal value in forceTotal plans
Standard Life£21.5bn170,000
AJ Bell£13.9bn71,000
James Hay£12.3bn40,000
Hargreaves Lansdown£10.1bn146,000
Suffolk Life£5.7bn19,223
Transact£5.1bn37,899
Hornbuckle Mitchell£4.1bn15,000
Curtis Banks£4.0bn11,500
Scottish Widows£3.1bn36,448
LV=£2.5bn20,117
Some operators did not provide information for this part of the survey. Source and copyright: Money Management.