SIPP provider sees 30% surge in client numbers

The Manchester-based company now has £815m under management, and administers more than 6000 SIPPs, opening nearly 1800 new SIPPs in the 12 months to April.

The provider offers just one product - the Liberty Option SIPP. Introduced in 2013, it charges an annual management fee of £150 plus VAT.

The provider says much of its new business has come through a growing network of partnerships with platforms and adviser recommendation. Liberty SIPP now works with more than 350 financial adviser firms – a 25% increase year-on-year.

Matthew Rankine, Director of Sales and Marketing at Liberty SIPP, commented:

“Our first billion will be an important milestone for us. But while we may cease to be seen as a ‘small’ pension provider, we’re determined to keep the personal touch that has always been a Liberty hallmark.

“Liberty SIPP began life nine years ago as a specialist SIPP provider with higher fees, but we’ve now pared back our offering to just one easy-to-understand but highly flexible product – the Liberty Option SIPP.

“It was inspired by what advisers told us they wanted – a low-cost SIPP with simple, highly transparent fees. We believe exclusive doesn’t have to be expensive, and our Option SIPP’s success shows an ever-growing number of advisers agree with us.”