MOMENTUM ‘INTERESTED IN ACQUIRING SIPP PROVIDERS’

  • Pension specialist focused on value-enhancing deals and quality books
  • Significant investment in technology and administration will drive next phase of growth

Momentum Pensions, the growing pension specialist and SIPP provider, is considering strategic acquisitions of SIPP rivals as it builds for the next phase of growth.

The UK and international specialist has achieved growth of 35% in total UK SIPP accounts in the past 12 months as group assets under administration have hit £1.25 billion.

Significant investment in technology and recruitment of administration staff means the group is well-positioned for further growth and has funds available for acquisitions to support its long-term business strategy.

Momentum has seen strong growth in its average SIPP case to around £250,000 and is benefiting from the boom in defined benefit pension transfer business as well as advisers’ confidence in its ability to deliver solutions for high net worth clients.

Mark Gaywood, Group Chairman of Momentum Pensions said: “We are interested in strategic acquisitions of providers as the accelerated growth in SIPP business in the UK is very positive.

“However, any potential acquisitions have to be value-enhancing for us and we are very much focused on quality books of business with an emphasis on standard assets in line with FCA guidance on best practice.

“We are not reliant on acquisitions for growth but do have the capacity through our investment in technology and administration to ensure we can deliver the high standards of service clients and advisers demand.”

Momentum has a pedigree in the SIPP market stretching back over 20 years and is established as a top 20 provider in the UK.

Momentum has taken a dynamic approach to the development of its SIPP range which is designed to evolve with clients as their investment requirements change, enabling investors to move between the products, free of charge, when they need to.

The Momentum SIPP Range is administered in Manchester and is backed by a highly skilled team with servicing and technical expertise, including property transactions, within the specialist pension market.

It was the first company to offer the option of switching for free within a multi-jurisdictional proposition.