Investacc Pension Administration Limited

2023 was another progressive year for the company with turnover increasing by 28% and profit before tax increasing by 35% , the Pre-Tax Profit Margin (PTM) remains above our industry Peer group at 40% with EBITDA increasing by 35% to £2.41m Assets under Administration (AUA) increased to £4bn as both SIPP member numbers and SSAS schemes increased. Our staff are our best asset and employee numbers rose during the year to 85 (2022: 76), whilst recruitment remains challenging we will continue to seek new talent and invest in training into 2024 to ensure our recognised service standards are maintained, this being evidenced by member satisfaction with attrition rates continuing to be well below competitor levels at 3.48% in 2023. The exceptional personal service reputation that the company has acquired was again recognised by industry awards in 2023, including, winner of Moneyfacts Best Pension Service, for the fourth year in a row, and being awarded Best SIPP Service. At the Financial Adviser Service Awards (FASA) we were awarded 5 stars for the sixth year. Our stance of not accepting non-standard assets, other than fixed term bank deposits, will continue and we maintain a strong, liquid balance sheet with cash reserves exceeding £5m ensuring the company regulatory capital exceeds 250% of requirements which will be maintained around this level. The Directors consider the Company's exposure to regulatory, credit and market risk is very low, having built up cash reserves, our capital adequacy significantly exceeds the regulatory requirement, and the Company does not rely on any external borrowing.