Focus 110 – Strength in numbers
For some years now we have operated under the ‘Talbot and Muir’ trading style but have maintained two distinct businesses, Talbot & Muir SIPP LLP (SIPP Operator) (TMS) and Talbot & Muir Limited (SSAS Operator) (TML). For most advisers there is no distinction made between the two businesses and we felt it was time to recognise this reality and simplify our structure.
So, from 2nd October 2017 we will operate as one company, TML, with both SSAS and SIPP services being provided by that business.
In practical terms you and your clients will not experience any changes in the service delivery, personnel, product range and pricing structures that we offer. This rationalisation really only impacts our SIPP clients whose business is simply transferred from TMS into TML (our SSAS clients are already within TML).
As well as simplifying our structure, the change will further strengthen our balance sheet and allow us to drive our ambitious expansion plans over the coming years.
Against a backdrop of record inflows of new SIPP and SSAS business, we remain committed to remaining independent and providing a first class service to the adviser community and intend to enhance and expand our back office proposition and adviser support functions. Unusually our FCA Regulatory Capital requirement is fully met from Tier 1 resources and we carry a healthy surplus over and above the minimum capital requirement – which is important for you and us.
We are writing to all existing SIPP clients under separate cover, advising them of the decision and reassuring them that there is nothing to be concerned about, in fact this is a positive step for them.
We look forward to the future with confidence and a clear direction of travel to further cement our position as the leading, owner managed, independent SIPP and SSAS operator in the UK.