Talbot and Muir is to merge its SIPP and SSAS businesses from October after receiving FCA approval.

The decision has been made by Talbot and Muir, it says, in order to simplify its business model. It entered the SIPP market in 2000.

Up until now, the business has maintained two distinct entities, Talbot & Muir SIPP LLP (SIPP operator) and, Talbot & Muir Limited (SSAS operator).

A Talbot and Muir spokesman said for most advisers there was no distinction between the two businesses and as a result it took the the decision to simplify its structure.

Brian Talbot, director at Talbot and Muir, said: “We have marketed ourselves as one business for quite some time and it makes sense to reflect this in our model.  In practical terms advisers and their clients will not experience any changes in the service delivery, personnel, product range or pricing structures that we offer.

“As well as simplifying our structure, the change will allow us to drive our ambitious expansion plans over the coming years.  Against a backdrop of record inflows of new SIPP and SSAS business, we are committed to remaining independent and providing a first class service to the adviser community and are currently enhancing and expanding our back office proposition and adviser support functions.”

Mr Talbot added: “We have communicated the change to all existing SIPP clients and their advisers and look forward to the future with confidence and a clear direction of travel to further cement our position as the leading, owner managed, independent SIPP and SSAS operator in the UK.”