Mr Lancaster will oversee @sipp’s sales and operations departments in addition to his finance responsibilities. As COO he will focus on @sipp’s continued service proposition and forge strong working relationships with independent financial advisers.

He will ensure the firm is well placed to support advice businesses serving clients who require a bespoke pension product or service to meet their financial needs.

Mr Lancaster, who has been with @sipp for more than a decade, played an instrumental role in the successful management buyout earlier this year.

He sits on the company board alongside Managing Director Eddie McGuire and will continue to report to McGuire.

Prior to joining @sipp, Mr Lancaster previously held a number of senior roles across multinational organisations such as Deloitte.

His previous experience has seen him demonstrate his financial modelling, business partnering and project management skills across financial services, aerospace manufacturing and corporate finance projects.

This included being the finance lead on a $2 billion (c. £1.56bn) aerospace programme and managing the financial performance of a £1bn financial transformation programme.

Tercia Grindlay, a former management accountant, has become finance manager and will now be responsible for the day-to-day accounting and finance activities.

She has been at the firm for more than 11 years and will report to Mr Lancaster in her new role.

Since joining the business, Ms Grindlay has played a key role in embedding financial practices across the organisation to allow the SIPP operator to grow at its accelerated pace.

Eddie McGuire, managing director of @sipp, said: “I’m fortunate to work with such a talented and hardworking bunch of people.

“Both Steve’s and Tercia’s promotions are well deserved and will help @sipp continue with our ambitious growth plans.

“As a truly independent pensions specialist we understand advisers value our personal service and deep technical expertise, which is an ethos shared with the advisers themselves. This enables them to provide better outcomes to their clients and support long-lasting relationships.

“In this Consumer Duty world we live in, it is more important than ever for advisers and providers to demonstrate how they are providing added value. Advisers who have clients with more complex and superior service needs want to know they can put their trust in the partners, services and products they use.

“As well as these promotions we also have plans to expand our business development management footprint in the near future.

“Our BDMs are always on hand to help advisers with any queries they may have.”

Both promotions were effective from 1 August 2024.

In January the entire share capital of @sipp Limited was acquired for an undisclosed sum by @sipp Group Holdings Limited, a holding company which was set up by the firm’s existing management team. The management buyout was led by Mr McGuire and Mr Lancaster.

Having been established in Glasgow in 2001, @sipp remains independent of any investment platform, fund manager or private equity business.

As of March this year, @sipp provides administration and trustee services for more than 4,600 self-invested pension members, holding around £2bn assets under administration, including 1,300 commercial properties.