March 10 2014 Latest news:
Monday, February 10, 2014
Suffolk Life, the Ipswich-based provider of self-invested personal pensions (SIPPs), has appointed regional law firm Birketts to provide specialist legal services.
Birketts has been appointed to a panel of three law firms to manage the acquisition and disposal of commercial property, along with ancillary work.
The acquisition of commercial property using SIPPs has shown significant growth over recent years due to tax advantages and their greater flexibility over standard pension arrangements.
Dominic Savage, Suffolk Life’s director of property, said: “The combination of SIPPs and commercial property is a complex one. Advisers and investors are increasingly finding it difficult to access the appropriate expertise and experience they need from their legal representative, and the question ‘Can you recommend a solicitor to me’ is fielded by my team ever more frequently.”
Birketts has a specialist SIPP property team which will work with Suffolk Life and its clients throughout England and Wales, and was selected due to their expertise and experience of SIPP transactions.
Suffolk Life now owns in excess of 3,000 commercial properties on behalf of over 5,000 investors.
All three firms of solicitors on its panel have committed to a menu of fees for the services they offer and Birketts has agreed with Suffolk Life to provide the services in a bespoke manner benefiting both the end investor and their adviser.