Originally sent on 21 March 2019

Yesterday we announced our 2018 full year financial results to the London Stock Exchange. You can download our presentation to analysts here. Our key headlines are:

Operating revenue: £46.1m (+6%)

Adjusted profit before tax (before tax, amortisation and non-recurring costs): £12.1m (+13%)

Assets under administration: £24.8bn (+0.4%)

New own SIPPs: 5,838 (+8.7%)

Firstly, thank you for continuing to support Curtis Banks and recommend our products. We’ve taken a step forward by launching Your Future SIPP, bringing all our capability and services into a single pension that’s available now. We’re also transforming our digital user experience and online servicing capability, and have more improvements to bring over the next few months.

Secondly, a healthy P&L and balance sheet is important for a SIPP operator in today’s market. Parts of the SIPP market have their problems: high profile court cases, uncertain liabilities and questionable assets. Some providers are reported to be facing hundreds of claims but would try to convince that it is safe to trust them with your clients’ retirement funds. Due diligence has never been more important, but equally has never been more challenging.

As a listed company we set a high bar for corporate governance and transparency of disclosure. We want to make your due diligence easier and remove uncertainty about what good looks like in the SIPP market. We were trusted with the retirement plans of over 5,838 new clients in 2018, and with your support we look forward to many more this year.

Please get in touch with one of my team to discuss your next SIPP recommendation.

Dave Stratton