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Liberty SIPP closing in on GBP1bn AUM

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The SIPP provider Liberty SIPP has grown the value of its assets under management by 87 per cent in a year, bringing it to within touching distance of the GBP1billion mark.

The Manchester-based company now has GBP815million under management, and administers more than 6000 SIPPs – a 30 per cent increase in client numbers on the same time last year.

It opened nearly 1800 new SIPPs in the 12 months to April, and its consistently strong rate of growth has prompted the firm to predict it will reach GBP1billion under management by mid-2016.

Liberty’s growth is based on firm foundations, with every one of its 1800 new clients using their SIPPs exclusively for standard investments.

The provider offers just one product; the low-cost, highly transparent Liberty Option SIPP. Introduced in 2013, it charges an annual management fee of just GBP150 plus VAT. The fee has remained frozen since launch.

Much of the provider’s 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 per cent increase in a year.

Matthew Rankine, (pictured) Director of Sales and Marketing at Liberty SIPP, says: “Liberty SIPP’s steady growth in both client numbers and assets under management should see us break the GBP1billion barrier within a few months.

“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.”

The past 12 months have also seen Liberty SIPP invest heavily in new technology, and partner with CTC Software to enable it to handle much greater numbers of clients. The firm also recruited Oliver Bowler as Business Development Manager to drive further growth across the Midlands and northern England.

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