Talbot and Muir continues to see impressive growth and sets its sights on new premises in its 25th year.

Talbot and Muir continues to see impressive growth and sets its sights on new premises in its 25th year

 ·       14% increase in new SIPP schemes

·       Total SSAS and SIPP numbers rising 12% to 5070

·       AUM up over 30% to £2.4bn

·       40% increase in supporting introducers


 Talbot and Muir, the independent self invested personal pension (SIPP) and small self administered scheme (SSAS) specialist, that celebrates its 25th anniversary this year, has announced a 14% increase in new SIPP cases during 2017 (4,360) compared to 2016 (3,820).  There was also a marked increase in the number of advisers supporting them, up 40% since 2016.

 

Brian Talbot, Founder Shareholder and Director, Talbot and Muir comments: “We have spent the last 25 years building a robust and sustainable business model with 85% of our fee income being renewal fees and turnover increasing by 17% last year alone. We remain privately owned, are entirely self-financed, and hold a healthy surplus over and above our minimum capital requirements.”

Talbot and Muir remain bullish about the prospects for growth in this high profile sector of the pension marketplace. Looking to the future, the firm is planning its move to new, larger offices later in the year.

Brian continued: “The tectonic plates within the SIPP industry have been moving rapidly over the last few years as providers reacted to the increased burden of capital adequacy and spectre of increased FCA scrutiny, combined with failing, non-standard investments. We believe there will be further consolidation and casualties within the market, driven in no small part by the extent of some providers’ exposure to toxic, non-standard assets.”

The SFO enquiry into Ethical Forestry and the high profile collapse of Elysian Fuels are just two examples impacting some of the large players in the market, added to HMRC penalties, legal costs, and reputational damage this will have a serious impact on those firms exposed to such investments.

Brian said: “We have watched from afar over the last 10 years, with some degree of envy, the rapid growth of some of our competitors. We are now seeing that, in some cases, this growth was driven by an open-door policy where all manner of investments were allowed, often introduced via a combination of non-regulated introducers and direct clients. Where due diligence on these investments and introducers was lacking, the consequences are starting to be felt by these firms.”

“Advisers value our cradle to grave, hands on administration, combined with technical and procedural support. This is where we intend to remain positioned and to take advantage of the vacuum left by most of our competitors.”

For further information on Talbot and Muir please visit the website at https://www.talbotmuir.co.uk