Mattioli Woods buys rival Sipp provider

In January this year, the Financial Conduct Authority revealed it is ready to wind up self-invested personal pension providers who fail to meet capital requirement expectations.

Since then the Sipp market has seen a flurry of M&A activity.

Robert Forbes, a chartered financial planner with London-based Stadden Forbes Wealth Management said: “Mattioli Woods are a really good firm in this sector. We are expecting a lot more consolidation in part due to FCA rules and in part the changes to capital adequacy requirements which have been brought about recently.

“This type of consolidation is a good thing as long as there’s enough participants in the market that we’ve got enough variety. It’s a good consolidation.”