iPensions Group, a specialist pension provider and administrator, has acquired a portfolio of SIPP and SSAS business from Morningstar Wealth retirement services, including the associated trust company.
The SIPP and SSAS business consists of a legacy off-platform book, featuring various invested assets including property interests of the schemes’ members.
iPensions Group, founded in 1998, provides a variety of personal pensions to UK and non-UK individuals and serves over 11,000 members across its network.
This deal follows the previous acquisition of Forthplus, a SIPP provider based in Edinburgh.
iPensions Group group chief executive officer Sandra Robertson says: “This latest acquisition exemplifies our focus on identifying and transferring books of business where schemes and their members will benefit from our deep technical expertise and commitment to administrative and technological excellence supported by the highest standards of personal service.”
“We look forward to supporting Morningstar’s members and their diversified pensions assets which includes a focus on property that requires the specific pensions technical expertise we can offer.
Morningstar Wealth director of product management Steve Owen says: “Completing this deal is a milestone for Morningstar Wealth. It allows us to strengthen our focus on advancing our Platform and connected services. We are confident that iPensions Group will provide an excellent home for these customers, ensuring they receive the high level of service and support they have come to expect.”
