The acquisition will see Barnett Waddington’s SIPP portfolio increase to more than 2975 schemes, representing over £1bn in assets under administration (AUA).
Its SSAS portfolio will also grow to 2500 schemes, putting the company over the £4bn AUA mark for the first ever time
In total, it will add 250 SIPP (Self Invested Personal Pension) and 275 SSAS (Small Self Administered Scheme) clients to its existing book of business.
In reference to the firm’s July launch of the Barnett Waddingham Flexible SIPP, and the acquisition of SIPP & SSAS firm Harsant Pensions in August, partner Julia Basset said the latest news form part of an “exceptional year” for the company.
Stephen Kavanagh, chief executive at Chase de Vere said the company decided to sell the business because it is not “core” to its overall focus of providing independent financial advice services to private and corporate clients.
“Barnett Waddingham is the UK’s largest independent provider of actuarial, administration and consultancy services and places a huge emphasis on providing their clients with a high quality professional service,” he added. “We are therefore confident that clients whose products are transferred to Barnett Waddingham will continue to be looked after properly."
