Barnett Waddingham has continued an “exceptional year” for its self-invested personal pension and small, self-administered scheme business by making another acquisition, partner Julia Bassett has said.
The firm has acquired national advisory firm Chase de Vere’s Sipp and Ssas book for an undisclosed figure.
The deal, which will add 250 Sipp and 275 Ssas clients to Barnett Waddingham’s book, means the company’s Sipp portfolio reaches approximately 2,975 schemes, while its Ssas portfolio will grow to cover 2,500 schemes.
Ms Bassett said it marked an “exceptional Sipp” year for the business. She said the firm now has more than £1bn in Sipp assets under management and more than £4bn in Ssas assets under management.
The Barnett Waddingham Sipp is aimed at high net-worth clients of financial advisers.
Ms Bassett added: “Our number one priority remains providing excellent customer service and we are very pleased to welcome Chase de Vere clients to Barnett Waddingham.”
Adviser view
Jackie Fancourt, independent financial adviser at Derbyshire-based Jay Financial, said: “Such deals suggest the market for Sipp and Ssas business is shrinking.”
