InvestAcc Group has completed its acquisition of the AJ Bell Platinum Sip and SSAS business.
The deal brings InvestAcc’s total assets under administration to £9bn and adds 3,400 new customers, 46 employees and a Manchester office to the group.
The Platinum Sipp and SSAS businesses will operate under the new InvestAcc Platinum brand, but there will be no changes to clients’ pension schemes, investment holdings or fee structures.
InvestecAcc said the deal was evidence of its “buy-and-build” M&A strategy, to become the UK’s leading specialist pensions administrator.
Clients and their advisers will continue working alongside the same dedicated administration teams who previously supported them under AJ Bell, ensuring a seamless continuation in service.
Comprehensive FAQs, updated contact details and the latest product literature are available to clients and their advisers via the new InvestAcc Platinum website.
Platinum Sipp clients will also benefit from a number of propositional enhancements, including access to new commercial property and land purchases; access to cash management platforms to optimise returns and enhance FSCS protection; and a secure online portal for real-time access to Sipp information.
News of the deal was first announced in September.
Will Self, CEO of InvestAcc Group, said: “This acquisition represents a key step forward for InvestAcc Group, reinforcing our commitment to delivering high-quality pension services while expanding our reach and capabilities as we strive to become the UK’s leading specialist pension administrator.
“We’re thrilled to welcome our new colleagues and customers to the InvestAcc Group.”
