InvestAcc milestones
In June we will reach our 30th anniversary, and so we are taking the time to reflect and celebrate reaching several important milestones this year:
– Our SSAS trustee and administration service was established in 1997.
– The Minerva SIPP scheme gained Inland Revenue approval in 2003.
– Our lower cost SIPP Lite product was launched in 2012.
– We now service over 9,000 customers which includes over 8,000 SIPP members and almost 1,000 SSAS members.
– Customer assets exceed £3.3 billion (includes £3 billion in SIPP alone).
– More than 2,700 commercial properties are owned by our pension schemes.
– In the month of March 2022, we set up more new SIPPs than we did in the whole of our first two years.
– We have been able to grow staff numbers each year in anticipation of growth in customers, with over 70 staff now working full time on SIPP and SSAS.
– Following a thorough review, we have been awarded a B- rating by AKG Financial Analytics.
– In recent years we have won a number of top industry awards for our products and service.
– We are members of the Origo Options Transfer Service and are one of the fastest at dealing with transfers.
– Our Business Development team delivers support and training to advisers across the UK; we have plans to grow this team further.
– In early 2022 we promoted two of our senior managers as Directors to ensure we make the most of the significant opportunities we see to grow the business.
We will be recruiting additional staff to support planned growth and we will ensure that service, financial security, expertise and value for money remain at the heart of what we do.
Thank you to financial advisers, their customers and our amazing team for making this all possible.
April 29th, 2022
The Minerva SIPP can invest in a wider range of assets including commercial property and land, on an individual or group basis. Any combination of permitted investments may be made within a Minerva SIPP including deposit accounts, DFM, open market platform/wrap accounts, stockbroker accounts and trustee investment plans, all held together within the same SIPP.
SIPP Lite is a lower cost option, for those that do not require multiple investment accounts, or access to commercial property and land at outset. SIPP Lite members are restricted to a maximum of one investment account, to run alongside the default SIPP bank account. This investment account could be another bank account or ONE of the following: stockbroker account, DFM, open market platform/wrap account or a trustee investment plan. For individuals that require additional investments at a later date, including commercial property and land, they can upgrade their SIPP Lite plan to a Minerva SIPP.
A Small Self-Administered Scheme (SSAS) is a type of UK registered pension scheme. Each SSAS is governed by its own trust deed and rules and is a separate legal entity to the sponsoring employer. The sponsoring employer establishes the SSAS and invites members to join. Any individual employed by the sponsoring employer (or a participating employer) may join the scheme and all members are appointed as trustees alongside the professional trustee. SSAS trustees have a very wide range of investment options, including the ability to make secured loans to the sponsoring employer of up to 50% of the net asset value of the scheme, subject to certain conditions.
We have been operating in these markets for over 20 years. The SSAS business was formed in 1997, and in 2003 we launched our flagship product, the Minerva SIPP. The range is completed by SIPP Lite, which has been available since July 2012.
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