Barnett Waddingham has acquired Chase de Vere’s Sipp and Ssas business for an undisclosed figure.
The deal will see the firm add 250 Sipp and 275 Ssas clients to its existing book of business.
As a result of the acquisition of the new business, Barnett Waddingham’s Sipp portfolio will increase to more than 2,975 schemes, representing more than £1bn of assets under administration.
The firm’s Ssas portfolio will grow to 2,500 schemes and will break the £4bn assets under administration mark for the first time.
In July this year, Barnett Waddingham launched a new ‘Flexible Sipp’ which, the firm said, has been launched as a result of growing demand from financial advisers looking for a “simple, multi-purpose” Sipp product.
The Sipp provides low-cost access to a range of discretionary fund managers. It also offers the benefits of a ‘Lite’ Sipp and can also be used as a full bespoke Sipp, with access to commercial property and other bespoke investment options.
In August this year, Barnett Waddingham acquired Sipp and Ssas firm Harsant Pensions.
Julia Bassett, partner at Barnett Waddingham, said: “It has been an exceptional year for our Sipp and 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 and Ssas book.”
