IPM’s 20-year dilemma: Why we’ve pursued excellence over rapid growth

This article is intended for financial services professionals only. None of the information contained in this article should be received as advice. Pensions are a complicated area of financial planning and IPM suggests that financial advice from a suitably regulated financial adviser is sought before an individual takes any action in respect of their pension savings.

For over 25 years, IPM has specialised in a fully bespoke SIPP, supporting financial advisers and their clients.

It is fair to say that the SIPP environment has changed significantly during this period.

It was estimated that in 1999 there were approximately 50,000 SIPPs in force. In 2024, the FCA said there were approximately 5.3 million.
SIPPs in 1999 were the full, bespoke version. In the 2000s, the advance of the internet and supporting technology saw the rise of platform and online SIPPs.
These developments saw SIPPs become more mainstream, increasing the number of providers, expanding the options for consumers, and driving down fees.
The other side to this is that the fully self-invested nature of SIPPs became more restricted, as online and platform SIPPs limited the investment options available.
Even the more “traditional” providers who continued to offer full SIPPs started offering alternative versions of their SIPPs, so-called “SIPP Lites”. These SIPPs offered fewer investment options by default, but for additional fees, extra flexibility could be bolted on.

With all this in mind, in the mid-2000s IPM had a decision to make about the type of SIPP we offered.

Do we attempt to match the market by offering new products?

Or should we stick to what we are good at, what we know, and continue to provide our full, bespoke offering only?

For those of you who have worked with us previously, we are sure you know the answer!

Here, we’ll explain a little about why we have stuck to what we’re good at and how our 2026 adviser survey confirms we made the right choice.

5 key reasons we’ve pursued excellence over rapid growth at IPM

1. We’re privately owned and profitable

IPM is a privately owned company whose shareholders have a day-to-day involvement in the business. There are no other outside interests; IPM only offers a SIPP and does not provide any other kind of service. This allows us to focus solely on the service we provide to our advisers and clients, and how best we can develop this.

We are a well-run and profitable company; advisers can request a copy of our due diligence pack to see more details about this. Our shareholders are very aware of the need to continually invest in the business to ensure that we can keep pace with technological progression in our profession and ensure staff numbers are at a level to provide the personable service we are known for.

2. We have a clear succession plan that factors in sustainable growth

There is a succession plan in place within the business, so should senior shareholders wish to step back, there will be no interruption in the service being offered by IPM. The day-to-day running of IPM is overseen by our management committee, each of whom have 25+ years’ experience in SIPPs, with many of these years being with IPM.

The management committee are aligned with the same ethos as to how the future of the business looks. While we wish to grow the number of advisers we support and clients we look after, this must be done in a sustainable way.

3. Acquiring more businesses could dilute the service we offer

We have only ever undertaken one acquisition, back in 2003. Since then, our business has grown organically through our connections in the profession, concentrating on providing a high level of technical yet personal service to our advisers, clients, and referrals. This will remain our focus.

Our concern is that taking on higher numbers through acquisitions will dilute the service we can offer to our existing clients. Given the comments in the recent adviser survey – more on this later – we know that the high-quality service we offer is a major draw of working with IPM.

4. Our team provides quality over quantity

One of the things we are most proud of within our business is the team we have built. We are a team of 36 based in Hertfordshire, and over 10 of us have been with IPM for over 20 years. Many more have been with IPM for over 10 years, and a lot of our team had pension experience before joining us.

As such, our team is one of our biggest strengths. Service users are able to communicate directly with individuals who not only have good knowledge of their circumstances, but a strong technical pensions background as well.

While the world is increasingly going online, people still like to pick up the phone to us. We have deliberately avoided automated answering systems; we can all recall times listening to music on a loop for minutes on end! Instead, you can call us and ask for the person you want to speak to. If they are not available, our team are happy to help or pass on a message.

5. We’re specialists

One area of expertise we have is commercial property purchase within SIPPs. We own over 1,300 properties on behalf of our clients, with around 80 transactions taking place at any one time.

We employ a dedicated property team, a member of which is allocated to each transaction, giving you a point of contact from instruction through to completion and beyond. This is where the personal approach of IPM really comes to the fore.

Property transactions can be emotive, especially if the client’s business is involved. Being able to have direct contact with the person who is handling the transaction and work together to bring any transaction to a conclusion was another area highlighted by advisers in our recent survey.

This approach, coupled with the fact we have one of the most cost-effective offerings in the market for commercial property SIPPs, means that we support advice firms of all sizes with this type of work – from national networks to smaller, directly authorised businesses.

A scenario we are asked about almost daily is transfers in specie of property, either from other SIPP providers or SSASs. Often, such work can seem daunting for advisers to undertake. However, there is usually good reason why the conversation has come up on the first place. Our article looks at the reasons why a transfer in specie of property may be beneficial and how we can help.

Bespoke SIPPs have their place in an adviser’s toolkit when speaking with clients; here are five scenarios where we see advisers recommending IPM on a regular basis.

With that said, the advancement of offerings in the market means that low-cost, simple investment SIPPs can often be the right solution for a client, regardless of fund value. We understand that and appreciate that many of our advisers will have a low-cost SIPP as their preferred choice for their clients.

Our recent survey proves true value lies in the personal touch

You may have read our recent article breaking down the results from our 2026 survey. In this survey, the value of our personal approach truly stood out. Firms are looking for continuity of care in an acquisition-focused environment, and IPM is providing it in spades.

Here are three key takeaways from the survey. You can read the full breakdown of our survey for more information.

1. Advisers say the best thing about working with us is our personal service

We asked survey respondents: “What’s the best thing about working with IPM?”

Here’s a handful of the replies… You’ll notice a pattern forming!

“Human touch”
“The people and the culture”
“Direct access to people I know can help”
“Communication and support from the team”
“Attention to detail and service”
“Pragmatism, efficiency, clear communication, the ability to talk to real human beings with knowledge and experience”
“Personable and friendly service, knowledgeable and helpful staff”
“Real people, huge experience”
“Expert knowledge, personal service, and long staff retention make you stand out from the crowd”
“[The business is] not too big”

These responses affirm the choice we made all those years ago, between being growth-focused or maintaining a sustainable offering within our specialism.

2. Respondents are very confident in recommending IPM

We asked, “On a scale of 1 to 10, how likely are you to recommend IPM to your clients when they need a bespoke SIPP?”

The average response was 9. What’s more, 43% of respondents opted for 10, showing they would have no hesitation whatsoever in sending clients our way for a bespoke SIPP.

3. In a complicated area of advice, IPM stands out as a trustworthy firm

From our survey, we gathered that not all respondents are confident about navigating the SIPP landscape, nor are they impressed with certain regulatory changes that are happening at the moment.

Despite this, most respondents commented that IPM is a firm they trust when dealing with highly complex cases.

“You know your business and for more complex true SIPP requirements you are the best, by some distance, SIPP provider I’ve worked with.”
“[Please] continue to provide the bespoke and personal service, which is lacking elsewhere in the FS sector!”
“I am not keen on SIPP transfers when there’s a property […] That said, if I did spot a property case in future, you would be the top of the list.”
“The general state of the market is terrible […] The list of firms I’d trust with my clients’ money is very short.”

We want to be your first-choice bespoke SIPP provider

Our experienced team is here to help you navigate the bespoke SIPP environment and produce the right outcomes for your clients. Email info@ipm-pensions.co.uk or call 01438 747151 to learn more about working with our specialist team.