James Hay Partnership

James Hay Partnership is a provider of financial services products in the UK with headquarters in Salisbury. The company is best known for administering Self Invested Personal Pensions (SIPPs) introduced in the Finance Act 1989[1] by the UK Chancellor of the Exchequer, Nigel Lawson in his commons speech.

History

James Hay was found in 1979 and incorporated in 1990 before becoming part of Abbey National (now Santander UK) in 1994. In 2010, Santander sold James Hay to its current parent, the IFG Group PLC for a reported £35m.[2]

James Hay became the largest provider of SIPPs in the UK during 2001 follo dramatic period of growth in the demand for these flexible pension products.[3] James Hay performed the trustee administration for a number of insurance companies who offer SIPPs to their customers who are often introduced via IFAs (Independent Financial Advisers). In 2014 James Hay evolved its SIPP to include other non-pension wrappers such as general investment accounts (GIAs) and individual savings accounts (ISAs). The IFG Group owned several Adviser companies including London based Saunderson House. In March 2014 IFG Group sold a number of these companies in order to focus on the James Hay and Saunderson House business units.[4]

James Hay won the MoneyFacts Award for Best SIPP Provider in 2012 and 2013[5] and received a Defaqto[6] rating of 5 stars in 2015

Operations

The company's parent, the IFG Group, is listed on the London Stock Exchange.[7]

James Hay Partnership has headquarters in Salisbury where it employs around 500 staff. It also has offices in London and Bristol. Overall it employs around 600 people in the UK.[8]

References

  1. ↑ Finance Act 1989
  2. ↑ IFG Buy James Hay from Santander, Money Marketing, March 2011
  3. ↑ "James Hay sees Sipp market share grow to 37 per cent | News". Money Marketing. Retrieved 2014-06-12.
  4. ↑ IFG Group Sells Adviser Arm, Citywire, March 2104
  5. ↑ James Hay winner of Best SIPP Provider 2013, MoneyFacts Awards 2013
  6. ↑ James Hay Defaqto rating of 5 stars
  7. ↑ IFG Group listed on London Stock Exchange, March 2011
  8. ↑ LinkedIn Company Profile
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.