HomeBussinessiPensions acquires Sipp and SSAS business from Morningstar Wealth | Money Marketing

iPensions acquires Sipp and SSAS business from Morningstar Wealth | Money Marketing


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iPensions has acquired a portfolio of self-invested personal pension (Sipp) and small self-administered scheme (SSAS) business from Morningstar Wealth Retirement Services.

By doing so, iPensions has also acquired the associated trust company and takes over as the operator and administrator.

iPensions Group said: “The acquisition builds on the group’s growth strategy driven by technology-enabled solutions combined with deep technical knowledge and administrative excellence.”

The Sipp and SSAS business to be transferred to iPensions Group is a legacy off-platform book and features a broad range of invested assets, including the interests of the schemes’ members in property.

This follows iPension’s acquisition of Edinburgh-based Sipp provider, Forthplus.

iPensions group chief executive Sandra Robertson said: “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 added: “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.”

iPensions provides a range of award-winning personal pensions for UK and non-UK residents, and services around 11,000 members across its wider group.

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