Talbot & Muir has bought the Sipp and Ssas administration business of Attivo Group for an undisclosed amount.
About 1,070 Sipps and 14 Ssas will be added to Talbot & Muir’s existing book at the end of August, taking assets under administration up to £1.8bn.
Graham Muir, director at Talbot & Muir, said the acquisition is an important part of the firm’s growth strategy.
He said: “We are focused not only on acquisitions but strong organic growth. Attivo Group have a well-managed book which is not only a good fit with our business, but will also provide a significant boost to our scheme numbers and financial strength.
“As well as maintaining a strong strategic partnership with Attivo Group going forwards, we remain acquisitive and further deals are being considered.”
Stephen Harper, chief executive at Attivo Group, said: “Our focus is to build on and expand our chartered, independent financial planning business, and it became clear that our Sipp and Ssas clients were better served by a company with a specialist focus on pensions administration.”
John Stirling, chartered financial planner at Essex-based Walden Capital, said: “There have been a number of high-profile Sipp and Ssas administrator takeovers over the last 12 months, and this is only the latest, it is neither the largest, nor I am certain the last.
“There have been even more carrying on below the radar where neither purchaser nor purchased want to make a splash.”
ruth.gillbe@ft.com
