Dentons Pension Management has acquired Brown Shipley’s pension administration business and professional trustee company for an undisclosed sum.
The deal will see Dentons add about 1,000 self-invested personal pensions (Sipps) to its existing book, taking the total to more than 7,600.
It will also see 485 small self-administered schemes (Ssas) added, taking the total to more than 1,300, and assets under administration will jump to more than £6.6bn.
All 16 staff have joined Dentons with immediate effect.
According to Martyn Rose, chairman of Dentons, this acquisition forms an “important part” of the provider’s growth strategy.
Mr Rose said: “These books of business are a great fit for us, with both firms sharing a similar ethos of high quality service and administration excellence, putting the client at the heart of everything we do.
“I strongly believe that this acquisition, coupled with the knowledge that Dentons grew organically in 2020, and during one of the most difficult years on record, prove beyond doubt that Dentons remains one of the UK’s leading bespoke Sipp and Ssas providers.”
He added that the business would continue to look for acquisitions that are a “good strategic fit”.
Andrew Curran, chief financial officer at Brown Shipley, said: “Not only is Dentons an award winning specialist pensions administrator focused on Sipps and Ssas, it also shares the same client focus as us, which was an important pre-requisite.
“We are looking forward to continuing to work alongside Dentons in supporting our mutual clients, for whom Brown Shipley will continue to provide wealth planning, banking and investment management services.”
Back in February 2018, Dentons acquired rival Sippchoice which saw it add 1,400 Sipps to its books, as well as 800 Ssas.
The provider had first expressed its acquisition intentions in 2016, and was also in talks with a number of other businesses.
amy.austin@ft.com
What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know
