Rhyme Systems, a leading provider of asset management solutions, today announces key findings from its industry SIPPs seminar, held last week in Tower 42 entitled, “Who Owns the SIPPs Assets?”
The seminar featured a senior industry panel and explored the fast emerging SIPPs market, asking which industry firms will compete for a share of this market and what macro-factors such as economics and regulation will drive key market changes?
The panel, chaired by Chris Potts, CEO, Rhyme Systems, included:
John Moret, Director of Sales & Marketing, Suffolk Life
John Lawson, Head of Pensions Product, Standard Life
Jeremy Charles, Chief Operating Officer, Thames River Capital
Matthew Craig, CoreData Research and freelance financial journalist
The event, “Who Owns the SIPPs Assets?” follows a UK market research study, commissioned by Rhyme Systems in the first quarter of 2007, which exposed the huge opportunity in the SIPPs market and the potential for wealth management firms to transform the UK’s wealth and pensions industry. This study by ComPeer revealed how total pension assets currently available to wealth managers are estimated at £310 billion. However, the research highlighted that the total potential pension assets available at maximum affordable contributions are in the region of £1,310 billion – representing a huge opportunity for wealth management firms. With 40% market growth in 2006, SIPPs continue to move from the high net worth sector to the wider and lucrative mass affluent market.