The provider, which offers a choice of Qrops schemes from Malta, Gibraltar and the Isle of Man, made its first move into the UK Sipp market in 2014 before the radical pension freedom changes were introduced under former chancellor of the exchequer George Osborne.
In a statement, Momentum said that it had made “significant investment” in technology and recruitment of administration staff, which has positioned it for further expansion, and that it has funds available for acquisitions.
Momentum reported a 35% growth in total UK Sipp accounts in the past 12 months, as group assets under administration hit £1.25bn ($1.6bn, €1.3bn) in the period.
The average Sipp case rose to around £250,000 as the firm benefits from “the boom in defined benefit pension transfer business,” the firm stated.
“We are interested in strategic acquisitions of providers as the accelerated growth in Sipp business in the UK is very positive”, said group chairman Mark Gaywood.
“However, any potential acquisitions have to be value-enhancing for us and we are very much focused on quality books of business with an emphasis on standard assets in line with Financial Conduct Authority (FCA) guidance on best practice.”