Curtis Banks acquires SIPP book out of administration

Curtis Banks Group plc, one of the UK’s leading SIPP providers with a portfolio of approximately 68,000 SIPPs, is pleased to announce the acquisition, for an undisclosed sum, of the Self Invested Pension Plans (“SIPPs”) business of European Pensions Management Limited (“EPM”) from the Special Administrators to that company.
EPM administers circa 5,000 SIPPs with assets under administration of circa £630m. The business will be administered by Suffolk Life Pensions Ltd, a wholly owned subsidiary of Curtis Banks, with offices and staff retained at EPM’s offices near Salisbury. The acquisition continues Curtis Banks’ stated strategy of growing both organically and by acquisition.
Commenting on the acquisition, Rupert Curtis, Chief Executive at Curtis Banks, said: “This is an acquisition of a significant book of SIPPs that further enhances our position as the largest SIPP operating group providing bespoke purely administration services. We look forward to welcoming the EPM clients to the Curtis Banks Group and working with their professional advisers.”
Will Self, Managing Director of Suffolk Life, added: “This acquisition, coming shortly after Suffolk Life joined the Curtis Banks Group, delivers a statement of the Group’s commitment to grow our position in the independent SIPP market, and demonstrates our capability to support advisers and investors in sections of the market that many other SIPP operators have retreated from.”