Dentons Pension Management has acquired Brown Shipley’s pension administration and professional trustee company for an undisclosed fee.
The deal will add 1,000 self-invested personal pensions (SIPPs) and 485 small self-administered schemes (SSAS) to the provider’s book, as well as all 16 staff. Dentons’ assets under administration will also grow beyond £6.6bn as a result of the acquisition.
Brown Shipley will continue to provide wealth planning, banking and investment management services to clients alongside Dentons.
Dentons chairman Martyn Rose said: “These books of business are a great fit for us, with both firms sharing a similar ethos of high-quality service and administration excellence, putting the client at the heart of everything we do. I strongly believe that this acquisition, coupled with the knowledge that Dentons grew organically in 2020, and during one of the most difficult years on record, prove beyond doubt that Dentons remains one of the UK’s leading bespoke SIPP and SSAS providers.
“We are committed to growing both organically and by selected acquisition and we continue to look for acquisitions that represent a good strategic fit for us.”
Brown Shipley CFO Andrew Curran added: “We were impressed by Dentons and knew early on that we could work well together. Not only is Dentons an award-winning specialist pensions administrator focused on SIPPs and SSAS, it also shares the same client focus as us, which was an important pre-requisite. ”