SIPPDec 28 2016

DP Pensions reveals plans to grow business

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DP Pensions reveals plans to grow business

Elaine Turtle, director at DP Pensions, has said a "slow and steady" approach is most appropriate for the business in terms of development plans and how the firm interacts with advisers and clients.

She said the Sipp and Ssas provider's goal in 2017 was to continue to grow organically and work with advisers to help them grow their businesses and navigate the often complex world of Sipps and Ssas.

Ms Turtle said the provider was also aiming to provide high levels of service and administration excellence, coupled with technical advice and guidance.

She said: "We anticipate continued growth and interest in the Ssas market as advisers come across clients that have chosen to go it alone, running their own scheme and run into issues.  

"Many have not been aware of changing legislation and need specialist administrators to put them in order."

Ms Turtle said with pension scams a huge issue for the industry; education will be a vital part of 2017 for providers.

She said: "Although Ssas schemes have appeared to have been a popular product for conmen and scammers, there a still a lot of genuine reasons for Ssas over Sipps are still popular with small family businesses.

"Though there was for a while an increase in transfer attempts to such schemes this activity definitely slowed down now that the industry has worked with advisers and their client’s to make them aware of the risks."

Ms Turtle added as a business, the provider wants to continue to work with advisers and to encourage the younger generations to see the financial services sector and in particular pensions, as a profession that they can be proud to work in and not just fall into as a last resort.  

"We will grow our business throughout 2017 at all levels, ensuring that we keep service levels high and provide the ongoing technical support that advisers have come to expect from us.

"We will also continue to improve our systems, as the sector develops, we will move with it and keep abreast of technology changes, providing more flexible systems."

She added the provider will continue to be cautious, not taking on books of business that might impact the service that it provides and maintaining its stance on issues such as requiring a positive adviser recommendation when asked to transfer a defined benefit pension scheme.

ruth.gillbe@ft.com