News

15
Jun

@Sipp grows Ssas arm with acquisition of Alfa Trustees

The Scottish-based Self-invested pension provider @Sipp has continued it’s expansion plans into England with the acquisition of the Alfa Trustees client book, boosting their assets under administration to £850M.
After the appointment of former AJ Bell director Eddie McGuire in November last year the business set their sights on expanding south of the Scottish borders, and we predict more acquisitions to come as they develop and execute this strategy.
Alfa Trustees brings with it £150m assets under administration, and 145 Ssas arrangements.  The business will continue to be based in Essex, and the Alpha team will transfer to @Sipp.
Gill Baynes, director of Alfa Trustees, will move to be the head of Ssas on the @Sipp leadership team.
Baynes is reported to believe the @Sipp and Alfa’s viewpoint on the Ssas market are aligned, with a focus on pension-led funding options, enhanced investment flexibility and succession planning opportunities.
“We have benefitted from a renaissance in the market in recent years – fuelled by changes such as the new pension flexibility rules and greater adviser awareness of both the personal and corporate benefits Ssas planning can bring,” she said.
Consolidation of fund administration can benefit clients in the long-term, as businesses grow their economies of scale, allowing for reductions in costs and fees.