SIPPs: SIPP provider Stadia calls a halt to new applications

Stadia SIPP stopp accepting new applicationsIn a surprise move, the Essex based SIPP provider, Stadia, has stopped taking new SIPP (Self-Invested Personal Pension) applications. Following recent changes introduced by the FSA, particularly in relation to capital adequacy, many experts have predicted that the SIPP market will change beyond all recognition in 2013, with a number of closers and mergers expected. The announcement by Stadia is perhaps the first of these expected changes....