PensionsAug 29 2017

Talbot and Muir merges Sipp and Ssas businesses

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Talbot and Muir merges Sipp and Ssas businesses

Talbot and Muir has received approval from the Financial Conduct Authority (FCA) to merge its businesses from October.

The decision to join the self invested personal pension (Sipp) and small self administered scheme (Ssas) businesses was taken to simplify the company structure.

Until now the firm had two distinct entities - Talbot & Muir Sipp LLP and Talbot & Muir Limited but for most advisers there is no distinction between the two, the company said.

Brian Talbot, director at Talbot and Muir, said the company has marketed itself as one business for quite some time and it makes sense to reflect this in its model.

“In practical terms, advisers and their clients will not experience any changes in the service delivery, personnel, product range or pricing structures that we offer,” he said.

The merger will also allow the company to continue with its “ambitious expansion plans over the coming years,” Mr Talbot said.

“Against a backdrop of record inflows of new Sipp and Ssas business, we are committed to remaining independent and providing a first class service to the adviser community and are currently enhancing and expanding our back office proposition and adviser support functions,” he said.

Talbot and Muir has communicated the merger of the businesses to all existing Sipp clients and their advisers.

Ian Staley, regional director at St Albans-based DGS Independent Financial Advisers, said he uses Talbot and Muir because of their high service standards.

“To have a simplified business model makes complete sense for them, we live in increasingly complex times and anything that makes it slightly less so is to be applauded,” he said.

Talbot and Muir saw a 66 per cent increase in new Sipp cases for the first three months of the year compared with the same period in 2016.

The provider had 188 new Sipp clients over that period while the first quarter's total last year was 113.