Guernsey-firm acquires SIPP supplier Alltrust

[ad_1]

Guernsey-based belief and pension firm the UAP Group (UAP) has acquired SIPP supplier Alltrust Companies and has backed Alltrust’s acquisition immediately of failed agency Rowanmoor Private Pensions.

UAP plans to make use of the acquisition of the Cardiff-based SIPP, SSAS and pensions agency as a platform for additional growth within the UK.

The acquisition, for an undisclosed sum, was authorised by the FCA in October however has solely simply been introduced.

UAP co-founder James Floyd will change into Alltrust’s new managing director, with Tommy Burns and Rob Shipman as non-executive administrators whereas Hamid Nawaz-Khan will transfer to change into group advisor. The present director of Alltrust, Tim Williams, will keep on as government director. 

Earlier immediately, Alltrust introduced it had acquired Rowanmoor Private Pensions Restricted (RPPL) which went into administration in the summertime after a flood of complaints to the Monetary Ombudsman Service. RPPL’s SIPP and Household Pension Belief workers will transfer to Alltrust and the sale is predicted to be accomplished by February.

RPPL, a significant SIPP and SSAS supplier, administered 4,000 SIPPs and 800 Household Pension Trusts with a complete funding worth of £1.5bn.

UAP CEO and co-founder Rob Shipman mentioned the acquisition would add a “prestigious and nicely recognised model” to the UAP group.

He mentioned: “Our firm core values of difficult the established order, working for our companions, and doing issues higher have been constructed on our want to ship one of the best shopper expertise. We’re a client-focused enterprise, delivering trendy options, via easy-to-use expertise.

“The acquisition of Alltrust brings UAP a prestigious and nicely recognised pension model, whereas additionally including important alternatives to the UAP enterprise. By combining the progressive technological options of UAP with the experience and robust repute of Alltrust, we’re within the excellent place to proceed enhancing our service whereas creating new and pioneering options for the advantage of our shoppers.

“Enlargement is our focus. We now have thrilling plans and as a part of this we’ve agreed to amass the SIPP e book and workers of Rowanmoor Private Pensions Ltd (RPPL). This may additional strengthen the Alltrust providing and supply a lot wanted stability to the workers and shoppers of Rowanmoor.”

UAP Guernsey Pension Plans and Trusts is itself a part of the Guernsey-based Idea Group Restricted which is regulated by the Guernsey Monetary Companies Fee.

UAP was established by founders Rob Shipman and James Floyd to fulfill a spot out there for a contemporary belief and pension firm utilizing the most recent expertise. UAP has a collection of merchandise to help shoppers of any nationality constructed by its staff in Guernsey.

• In a separate deal, SSAS agency WestBridge Group is buying the staff, shoppers and property of Rowanmoor Government Pensions Restricted’s (REPL) e book of three,500 small self-administered schemes (SSAS), for an undisclosed sum. That is the second main acquisition for Leicester-based WestBridge and follows the acquisition of the James Hay SSAS e book in March 2021. The deal will add over 3,500 SSASs to Westbridge’s current e book of 1,000 schemes.




[ad_2]


Posted

in

by

Tags:

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *