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Curtis Banks quadruples Sipp assets to £5bn

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Curtis Banks quadruples Sipp assets to £5bn

Sipp provider Curtis Banks has quadrupled assets to £5 billion over the last 12 months and plans to acquire more Sipp books this year.

For the year until 31 December 2013 profits increased fourfold to £3.4 million, up from £700,000 reported for 2012. Turnover increased to £9 million, up from £3.1 million over the previous year.

Growth has been driven by a sharp increase in the number of Sipps on Curtis Banks' books, up 147% to 12,000.

Curtis Banks said there had been organic growth over the year, but the acquisition of the Alliance Trust Savings full Sipp business in January 2013 had given the business a big boost.

Rupert Curtis, managing director of Curtis Banks, said: 'These results demonstrate that Curtis Banks is now a major player in the full Sipps market and well placed to continue this growth.   We offer wealth managers and IFAs amongst the highest levels of personal service in the industry and now have a strong capital base on which to continue to build.'

Banks said the firm plans further acquisitions of Sipp books this year as well as recruitment for its Bristol, Dundee and Leicester offices.


Author: William Robins

8th May 2014