SIPPJun 6 2018

Independent Scottish Sipp reaches 2,000 clients

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Independent Scottish Sipp reaches 2,000 clients

Glasgow-based independent self-invested personal pension (Sipp) provider Yorsipp has seen a year of growth after launching a number of new products.

The Sipp firm reached 2,000 clients after launching the Prestige Investment Managers Sipp, a bundled Sipp providing streamlined access to Myddleton Croft investment portfolios, which costs £50 to set up and a £150 annual fee.

It also launched the Prestige Cash Sipp, giving investors access to Cater Allen’s Sovereign 30 day account; and the Prestige Property Sipp which offers a simplified access to commercial property investment.

However, Yorsipp is not restricted to using any particular fund manager or insurance company.

The company also offers a standard singular Sipp, which allows one holding in addition to the trustee bank account, but is not restricted to any panel, costing £75 to set up and a £200 annual fee.

The client acquisitions position the provider at the smaller to mid end of the Sipp provider market. 

Liberty Sipp for instance, celebrated opening 3,618 Sipps in the 12 months to April and now administers 11,904 Sipps.

But Yorsipp said it prides itself on providing a personalised service for its clients, moving away from call centre servicing and standardised solutions.

Kirsty Gallagher, director at Yorsipp, said: “Our fantastic growth is a testament to the whole team and shows that mid-sized regional firms can challenge larger, well-known organisations if they have a clear vision of how they can be different.  

“We work hard to understand each client request individually and avoid the trap of bureaucratic anonymity that comes when dealing with a large firm.”

The firm also says it provides a quick turn-around service, and has a team dedicated to opening Sipps on the same day in most cases.

“As we grow, we are committed to continuing to focus on delivering the highest level of service at competitive rates - after all, this is what our members and partner IFAs have come to expect, and this is what makes us special,” Ms Gallagher said.