Pensions  

Pensions consultancy Isio buys Premier Pensions

Pensions consultancy Isio buys Premier Pensions

Pensions consultancy Isio is set to acquire Premier Pensions for an undisclosed sum in a move to create a combined advisory and pensions administration business.

The combined business will offer “a broader spectrum of pensions and financial advisory services to companies and individuals”.

Isio said the acquisition will add employee benefits and wealth management to its existing pensions administration, actuarial consulting and investment advisory services.

Isio launched in March 2020 after KPMG’s advisory business was sold to private equity company Exponent.

Once the deal completes, Isio said the business will be made up of 800 staff across nine locations in the UK, with estimated annual revenues of £100m.

Andrew Coles, chief executive of Isio Group, said: “The UK’s pensions industry is undergoing a significant revolution. Innovative thinking and new ways of managing employer pension responsibilities, employee benefits and individuals’ wealth are required for the future of the UK’s financial services industry.

“Acquiring Premier gives us the versatility to do this, by offering new and existing clients the full spectrum of employee benefits advice, actuarial consulting services, as well as wealth management and financial advisory and pension administration services.”

Premier chief executive Alastair Aird added: “We look forward to working with the team at Isio to bring the two companies together and create a unique position in the market as an agile, fast paced and complete pension, employee benefit and wealth adviser able to service the whole of the market.”

The deal is subject to approval by the Financial Conduct Authority.

amy.austin@ft.com

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