Partnership sells Annuity Direct to pension advice firm

Pensions specialist advisers Retirement Angels is to acquire Annuity Direct from annuity enhanced provider Partnership Group.

Subject to regulatory approval, Retirement Angels will purchase the share capital of Annuity Direct the online annuity comparison and advice service.

Bob Bullivant, chief executive of Annuity Direct said: ‘Retirement Angels will bring areas of expertise in the retirement market that we could only dream of.’

Steve Groves, (pictured) chief executive of Partnership Group said: “We are very proud of Annuity Direct’s achievements in the last two years after our investment to transform the business into a high quality, whole of market, independent retirement adviser.'