Momentum Pensions, the SIPP, SSAS and QROPS provider, is considering making strategic acquisitions of SIPP rivals as it builds up for further growth.

The Manchester-based UK and international company says it has achieved growth of 35% in total UK SIPP accounts in the past 12 months as group assets under administration have hit £1.25 billion.

The company has invested in technology and recruitment of administration staff to provide the resources for further growth and says it has funds available for acquisitions to support its long-term business strategy.

Momentum has seen growth in its average SIPP case to around £250,000 and is benefiting from the boom in defined benefit pension transfer business as well as advisers’ confidence in its ability to deliver solutions for high net worth clients.

Mark Gaywood, group chairman of Momentum Pensions, said: “We are interested in strategic acquisitions of providers as the accelerated growth in SIPP business in the UK is very positive. However, any potential acquisitions have to be value-enhancing for us and we are very much focused on quality books of business with an emphasis on standard assets in line with FCA guidance on best practice.

“We are not reliant on acquisitions for growth but do have the capacity through our investment in technology and administration to ensure we can deliver the high standards of service clients and advisers demand.”

Momentum has been in the SIPP market for 20 years and believes it is a top 20 provider in the UK.  The Momentum SIPP range is administered in Manchester and is backed by a team with servicing and technical expertise, including property transactions, within the specialist pension market. The company claims to be the first company to offer the option of switching for free within a multi-jurisdictional proposition. It has a number of offices overseas including Gibraltar and Malta.