BW SIPP upgraded to ‘Very Strong’ in latest AKG assessment

Barnett Waddingham’s SIPP business has been upgraded to ‘Very Strong’ (B+) for overall financial strength in the latest assessment from AKG, a trusted independent organisation specialising in financial analysis and review services.

The upgrade follows on from eight years being rated as ‘Strong’ (B), which already reflected a high‑quality and stable SIPP provider. The move to B+ represents a notable step‑change in AKG’s assessment and places BW SIPP LLP within a small group of providers that are recognised as having very robust financial and operational capability within the sector.

The assessment reflects BW SIPP’s excellent position, which is further supported by becoming part of the Howden Group in 2025, providing additional scale, long‑term funding capacity and resilience as part of a major international insurance specialist and employee benefits group.

"We are really pleased to see BW SIPP upgraded to ‘Very Strong’ by AKG. This independent assessment - made through the lens of institutional partners, advisers and customers - reflects the strength of our financial position, our operational capability, and our focus on delivering sustainable, well‑governed SIPP services over the long-term."

Key themes highlighted by AKG

AKG’s assessment recognises a number of strengths across BW SIPP’s business and operating model, including:

• Strong and resilient financial standing
  BW SIPP is recognised as having a robust standalone capital position, providing the ability to continue investing in technology, governance and service delivery. This is now further supported by the resources and backing of Howden. 

• Proven delivery of complex and scalable SIPP operations
  AKG highlights BW SIPP’s track record in delivering and managing complex SIPP arrangements, including institutional, co‑branded and white‑label propositions, supported by a well‑embedded risk culture.

• Robust governance and risk management
  The assessment recognises strong structures and expertise across Consumer Duty, business continuity, cyber resilience and disaster recovery. These areas are seen as increasingly important in a more demanding regulatory environment.

• Clear and measured growth strategy
  BW SIPP is identified as a core long‑term growth area within the wider BW group, with future growth expected to be underpinned by service quality, sustained digital investment and partnerships rather than acquisition‑led expansion.

• Strengthened leadership and established partnerships
  Recent leadership transitions and strategic hires are noted as supporting the next stage of development, alongside established partnerships with interactive investor and Saltus Partners, which underpin scale and market credibility.

Key statistics referenced in the assessment

• Total income of £12.4 million at 31 May 2025, representing year‑on‑year growth of 8%. 
• £30 billion of Assets under Administration at 30 November 2025.
• Regulatory capital coverage of 234% of minimum requirements at 31 May 2025, demonstrating a strong capital buffer.

Technology supporting resilience and future growth

AKG’s upgrade reflects confidence in BW SIPP’s ability to sustain long-term investment in technology and operational resilience. Continued investment in digital capability supports efficient administration and scalability, driving high-quality service delivery and client solutions. This includes the ongoing development of SIPP360, a secure, cloud‑based administration platform designed to support future growth and partnership requirements.

Looking ahead

As BW SIPP moves from a period of major platform transformation into its next phase of targeted growth, the senior leadership team has been strengthened. The appointment of Nick Cooper as CEO, alongside senior hires across risk, finance, change and proposition will support continued operational resilience, scalable growth and strong adviser and customer outcomes.

For more information about BW SIPP and the services we provide, please visit our SIPP service page or contact us directly.