City Trustees - part of Mattioli Woods



News and Media

05 July 2013

Mattioli Woods plc appointed to operate HD SIPP

Mattioli Woods plc has been appointed to administer the HD SIPP, which fell into trouble last year. Working closely with The Insolvency Service, Financial Conduct Authority (FCA) and HM Revenue & Customs (HMRC), Mattioli Woods has secured the scheme's ongoing viability following the failure from the HD SIPP's previous operator.

Mark Smith, Operations Director, commented:

"The appointment of the HD SIPP will allow members of the scheme to move forward with their pension planning after a turbulent period, which has been hugely difficult time for them.

With our proven systems and processes, we are able to provide a high-quality of service that leads to client satisfaction and peace of mind."

The scheme, which has approximately 40 active members, is not the first occasion in which the group has been stepped in to run a troubled SIPP scheme. In 2010, the group was appointed to run the Freedom SIPP, which had faced a HMRC case against it over unpaid taxes. More recently, it was also appointed to operate the Pilgrim SIPP by the Scheme's provider, Bank of Scotland plc.

Bob Woods, Chairman, added:

"Acquiring this scheme is a testament of our reputation as a provider, which showcases our capability of managing problematic schemes in a well-structured and professional manner.

The market is going through major changes and we fully support the FCA's desire to create greater security, long-term stability and professionalism around the SIPP market and its providers."

The Pilgrim SIPP, Freedom SIPP and HD SIPP are all being delivered through the City Trustees arm of the group.

 

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City Trustees is a trading name of Mattioli Woods plc. For news updates on the Group, please visit our central News & Media on the Group website.