Small, self-administered pension schemes provider WBR Group has bought Wimbledon-based Bespoke Corporate Pensions Limited (BCPL) for an undisclosed sum.
BCPL was founded by Eddie Kingsley 28 years ago and has more than 100 Ssas and group defined benefits schemes and £200mn in assets under administration.
It is a boutique Ssas administrator that is a service led business and provides high end Ssas services.
Tom Moore, chief executive officer of WBR Group, said: “We have made no secret that we are acquisitive and have shown how we can successfully integrate these businesses.
“This is our third acquisition and follows the purchase of the James Hay Ssas book in March 2021 and Rowanmoor’s Ssas book in 2023.”
Moore added: “The acquisition of BCPL is a great fit for us as it is rare that you have the opportunity to acquire such a loyal group of clients and a quality book of business.
“This will be our first London presence and is an important part of our growth strategy. We look forward to welcoming the team to WBR Group.”
The firm said BCPL is an ideal fit for WBR Group, following closely on the acquisition of Rowanmoor’s book of 3,500 Ssas’s.
Kingsley said: “So much has impressed me about WBR as I have gotten to know them. I see shared professional values, technical expertise, commercial know-how, strong working partnerships with clients and fair dealing.
“I know that I will be joining a team of colleagues whose professional calibre is of the very highest order. I see a firm whose financial strength is robust.”
Kingsley said he is “immensely proud” of BCPL, but knows more can be done.
“We needed to become part of a larger organisation with the same client centric focus and shared professional values,” he added.
Rowanmoor
In January, WBR Group rebranded from its previous name of WestBridge Group, following the completion of its acquisition of Rowanmoor Executive Pensions’ book of 3,500 Ssas’s.
Following the purchase, which was completed for an undisclosed sum, WBR Group had over 4,000 Ssas pensions and almost 150 employees.
Headquartered in Leicester, the group now has offices in Bolton and Salisbury.
Rowanmoor was the second major acquisition by WBR following the purchase of the James Hay Ssas book in 2021.
Rowanmoor Group Limited is the parent company for the three companies in the group.
These companies are Rowanmoor Executive Pensions Limited, which provides small self-administered scheme services, Rowanmoor Personal Pensions Limited, a Sipp operator authorised and regulated by the FCA, and Rowanmoor Trustees Limited, which provides trustee services.
The Ssas and Trustee firms provide non-regulated services and so neither company is authorised by the FCA.
Back in August, the directors of Rowanmoor Personal Pensions Limited appointed Adam Stephens and Chris Allen of Evelyn Partners as joint administrators after it was found to have failed in its due diligence of an introducer which advised on the unregulated investment.
In January, the FSCS said information it’s received regarding the collapsed self-invested personal pension arm of Rowanmoor has been “helpful” and that its investigations into the firm are continuing.
sonia.rach@ft.com
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