A FINANCIAL services business in Carlisle has seen off industry heavyweights to be named 'best self-invested personal pension provider' in the Investment Life & Pensions Moneyfacts Awards.

InvestAcc Group, in Port Road Business Park, was also a commended runner-up in the 'best small self-administered pension scheme provider' category.

The awards recognise companies that have consistently offered the most competitive products and the best levels of service, and shown the greatest innovation in the last 12 months.

Winners were chosen based on a combination of the analytical expertise of Moneyfacts’ research team and the opinions of independent financial advisers.

The awards were presented at the Lancaster London Hotel in a ceremony hosted by Strictly Come Dancing presenter Claudia Winkleman.

Richard Eagling, editor of Investment Life & Pensions Moneyfacts, said: “In what has proved to be another challenging year for the financial services industry, it is important to recognise those companies that have consistently stood out by providing the best products and service.

“The winners can rightfully be proud of their achievements and have set the benchmark for the rest of the industry to follow.”

InvestAcc Group was established in Cockermouth in 1992.

It moved to Carlisle in 2001 in anticipation of an upturn in business having secured pensioner trustee status from the Inland Revenue.

Its flagship product, the Minerva Self-Invested Personal Pension (SIPP), was launched in 2003 and the group has grown steadily since.

It has a customer base throughout the UK, managing pension schemes with 3,500 members and combined assets under management of £850m. Most business is referred by independent financial advisers.