James Hay and Saunderson House set for expansion

IFG Group, the parent company of Sipp provider James Hay and national IFA Saunderson House, plans to expand the businesses following improved performances from both firms.

James Hay Sip sales were up in October with 258 Sipps sold, exceeding monthly targets of 250, and taking the total number of Sipps under administration to 37,410.

James Hay now administers 40,000 Sipp, SSAS and wrap clients with £12 billion in assets under administration.

IFG said Saunderson House was in strong position for the retail distribution review (RDR) and would not be heavily impacted by the changes, as it was already fee-based.

It said: ‘As a pure-fee based advisor, the business is well-positioned with continued focus on its long term proposition of conflict-free advice and excellent client service.

‘With a deleveraged balance sheet and a net cash position expected by year end, the group is in a strong financial position with capacity to expand our Sipp and advisory businesses.’