The acquisition will see Dentons add approximately 1,000 Sipps to its existing book of business
UK self-invested personal pension (Sipp) provider and administrator Dentons has acquired the pension administration and professional trustee company of private bank Brown Shipley.
All 16 staff has joined Dentons with immediate effect.
The acquisition will see Dentons add approximately 1,000 Sipps to its existing book of business, bringing the total to over 7,600 Sipps along with an additional 485 small, self-administered schemes (Ssas), taking the total to over 1300 Ssas arrangements.
It will also take Dentons’ assets under administration to over £6.6bn ($8.9bn, €7.3bn).
The financial terms of the deal were not disclosed.
Martyn Rose, chairman of Dentons, said: This acquisition is an important part of our growth strategy. We are delighted to make this announcement and look forward to working closely with Brown Shipley in the future. 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 said.
Rose said, we are committed to growing both organically and by selected acquisition and we continue to look for acquisitions that represent a good strategic fit for us. We look forward to working closely with Brown Shipley as it will continue to provide its banking and investment services to those clients.