Smart Pension has now passed the £5bn mark for assets under management.
This growth has been fuelled by recent acquisitions alongside organic growth, with the master trust provider forecasting it will reach the £10bn mark within three years.
Smart confirms its now services over 1.4m members across 70,000 employers and sees regular contributions inflows of £1bn a year.
In July last year Smart Pension acquired Evolve Pensions, a leading provider of UK workplace pension services. This followed the acquisition of the Ensign Master Trust, the Welplan Master Trust, the Corpad Master Trust and the Corporate Pensions Trust.
Smart co-founder and Group CEO, Andrew Evans says: “We see huge opportunities for further growth in the UK and are committed to further investment in this market given the trajectory of the Smart Pension Master Trust and the regulatory tailwinds that are coming.”
Smart UK CEO Jamie Fiveash says this growth shows the company was challenging the status quo in the pension industry. “We’ve embraced cutting-edge technology, making a tangible difference to savers and employers alike. We are firmly focused on continuing Smart Pension’s strong growth, further margin improvement and continued profitability.”
He adds: “We have formed some excellent partnerships with advisers and other intermediaries. We’re focused on continuing to build these partnerships, delivering market leading solutions for our clients and members.”
