Options UK will be able to significantly expand its SIPP and SSAS portfolios following acquisition plans announced by its parent company, STM Group Plc.
The cross border financial services provider has entered into an agreement to acquire the portfolio, net assets, and trustee companies of the SIPP and SSAS businesses, from JLT Benefit Solutions Limited, part of Mercer Limited.
It’s also great news for Options UK – the independent pension administrator and trustee company – says Options UK Managing Director, Christine Hallett. She said:
“The acquisition of the Premier Pensions portfolio and team will complement our existing product offerings in the UK SIPP and SSAS markets. It also means that we will have access to an expanded network of intermediaries that have introduced clients to Mercer.”
Commenting on the acquisition, Alan Kentish, Chief Executive Officer of STM Group Plc, said:
"We are delighted that Mercer has chosen STM as the new owner for their SIPP and SSAS portfolio that they had previously acquired as part of their own acquisition of JLT. Both we and Mercer are committed to providing a seamless transition for clients, intermediaries, staff, and other stakeholders.”
The acquisition is not subject to regulatory approval as STM is not acquiring the regulated entities themselves, however both parties have kept the relevant regulators informed of the progress throughout the transaction process.
Options UK offers a range of pension solutions including SSAS, SIPP, property services and workplace pensions.