Dentons Pension Management has purchased Brown Shipley’s pension administration business and professional trustee company as part of its growth strategy.
As part of the deal, whose financial terms were not revealed, all 16 employees of the acquired business have joined Dentons, effective immediately.
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The acquisition will add nearly approximately 1,000 SIPPs to Dentons’ existing book of business, bringing the tally to more than 7,600 SIPPs.
It will also add 485 SSAS to the company’s book, taking the total to more than 1,300 SSAS arrangements.
Following the acquisition, assets under administration of Dentons will surge to more than £6.6bn.
Dentons Pensioin Management chairman Martyn Rose commented: “We are delighted to make this announcement and look forward to working closely with Brown Shipley in the future.
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By GlobalData“These books of business are a great fit for us, with both firms sharing a similar ethos of high quality service and administration excellence, putting the client at the heart of everything we do.
“I strongly believe that this acquisition, coupled with the knowledge that Dentons grew organically in 2020, and during one of the most difficult years on record, prove beyond doubt that Dentons remains one of the UK’s leading bespoke SIPP and SSAS providers.”
Brown Shipley CFO Andrew Curran said: “We were impressed by Dentons and knew early on that we could work well together. Not only is Dentons an award-winning specialist pensions administrator focused on SIPPs and SSASs, it also shares the same client focus as us, which was an important pre-requisite.
“We are looking forward to continuing to work alongside Dentons in supporting our mutual clients, for whom Brown Shipley will continue to provide wealth planning, banking and investment management services.”
