UK-based Sipp provider Barnett Waddingham has acquired Chase de Vere’s Sipp and SSAS business for an undisclosed sum.
Under the deal, Barnett Waddingham will add 250 Sipp and 275 SSAS clients of Chase de Vere to its existing book of business.
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The acquisition will boost Barnett Waddingham’s Sipp portfolio to more than 2,975 schemes representing over £1 billion assets.
In addition, the acquisition will increase Barnett Waddingham’s SSAS portfolio to 2,500 schemes with around £4 billion assets.
The deal follows Barnett Waddingham’s acquisition of UK-based Sipp and SSAS provider Harsant Pensions for an undisclosed sum in August this year.
Julia Bassett, partner at Barnett Waddingham, said: "It’s been an exceptional year for our SIPP & SSAS businesses, first with the launch of our new Flexible SIPP and the purchase of Harsant Pensions in the summer, and now with the acquisition of Chase de Vere’s SIPP & SSAS book."
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By GlobalDataStephen Kavanagh, chief executive of Chase de Vere, said: "The decision to sell our Sipp and SSAS business has been made because, while this part of our business has been extremely well run, it isn’t core to our overall focus on providing independent financial advice services to private and corporate clients."
