Rowanmoor Pensions, the result of a management buyout of part of James Hay, is planning its future starting with a series of IFA roadshows over the next few months.
The company, which officially launched on 1 September, was formerly the small self-administered scheme (ssas) business of James Hay Pension Trustees and the regulated business of James Hay Investment Services, subsidiaries of Abbey.
Led by Ian Hammond and David Seaton, former directors of James Hay Consultancy, the buyout also took in the associated consultancy business from James Hay, to leave Rowanmoor as the UK's largest independent Ssas provider with nearly 200 staff and a turnover of £10m.
Now the buyout is completed, Seaton says there are a number of things the company is looking ahead to, the first of which is a complete overhaul of its IT infrastructure.
He says: "We have got to totally separate out the computers from Abbey as there is a lot of complication on the systems, however, we are upgrading to a state-of-the-art system which should be in place by the end of the year."
Seaton also says they have started upgrading the telephone systems with local rate 0845 telephone lines being given out which takes callers straight through to a brand new telephone operating system so the communication lines with the company are continually improving.
Meanwhile, Rowanmoor intends to host a series of national roadshows for IFAs throughout October and November at which they will present its latest Ssas offering and will launch its 'Family Pension Trust'.
The new product, which will officially role out at the beginning of October, will look like a ssas, as members will have trustees, but instead of a ssas it will not need to be company based instead it will be provider based, similar to a self-invested personal pension (sipp), but each one will be individually registered.
Seaton says the trust will offer much greater flexibility, such as being able to have several members in the same scheme, as well as a common trust for all the participants, which Rowanmoor says has resulted in it already having a large order book - particularly from one IFA - for this product.
In addition, he says Rowanmoor is also looking to appoint four new consultancy positions to double its workload ability, and is also planning to recruit more administration staff.
Seaton, director of Rowanmoor Pensions, says: "We are very anxious to talk with the IFA community. We believe there is a very big market for this kind of business and we are gearing up to provide a much better offering."
And Ian Hammond, managing director of Rowanmoor, adds: "The launch of Rowanmoor Pensions gives us the flexibility and impetus to further enhance our leadership in self-administered pensions and better support our clients, intermediaries, introducers and staff."
Roadshow dates
Date and Venue
Wednesday 4 October - The Guildhall, Salisbury
Tuesday17 October - Holiday Inn, London
Wednesday 18 October - Novotel, London Tower Bridge
Thursday 2 November - The Copthorne Hotel, Gatwick
Wednesday 8 November - Hilton Hotel, Glasgow
Thursday 9 November- Moorhall Hotel, Sutton Coldfield
Tuesday 14 November - Culloden Hotel Holywood Belfast
Thursday 16 November - Mere Golf & Country Club Cheshire
Wednesday 22 November - Wood Hall Hotel & Spa, Northern meeting
Monday 27 November - Holiday Inn Bristol
For more details contact Rowanmoor via its website.