Wednesday, 12 February 2014 10:53
SSAS business rises by 20% at Talbot & Muir
New SSAS related business at Talbot & Muir increased by 20% last year, the firm has reported.
The company's assets have risen to over £1bn and there was also an overall rise in its Sipp book of 7.5% and its property portfolio by 12%.
The company said the 2013 SSAS growth had come despite talk in the industry of the downturn in the need for the product.
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Nathan Bridgeman, sales and marketing director at Talbot & Muir, said: "Our new business increases speak for themselves, while many have shied away from SSASs and focused just on their Sipp proposition, we have always believed there is a place for a well run SSAS alongside Sipps in the pensions industry.
"We have never seen a downturn in the interest in SSASs and the increase in new schemes over the last year shows there is still a significant requirement for this type of occupational scheme."
Claire Trott, head of technical Support at Talbot & Muir, said: "SSAS can often be more cost effective for multiple members of the same company, especially when a property is involved.
"They are great for succession planning in family businesses because there is no need to earmark the level of each asset the individual holds, provided the overall benefit levels are clearly recorded.
"The older generations can draw on the cash element leaving less liquid assets invested."
The company's assets have risen to over £1bn and there was also an overall rise in its Sipp book of 7.5% and its property portfolio by 12%.
The company said the 2013 SSAS growth had come despite talk in the industry of the downturn in the need for the product.
{desktop}{/desktop}{mobile}{/mobile}
Nathan Bridgeman, sales and marketing director at Talbot & Muir, said: "Our new business increases speak for themselves, while many have shied away from SSASs and focused just on their Sipp proposition, we have always believed there is a place for a well run SSAS alongside Sipps in the pensions industry.
"We have never seen a downturn in the interest in SSASs and the increase in new schemes over the last year shows there is still a significant requirement for this type of occupational scheme."
Claire Trott, head of technical Support at Talbot & Muir, said: "SSAS can often be more cost effective for multiple members of the same company, especially when a property is involved.
"They are great for succession planning in family businesses because there is no need to earmark the level of each asset the individual holds, provided the overall benefit levels are clearly recorded.
"The older generations can draw on the cash element leaving less liquid assets invested."
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