Tenet snaps up employee benefits firm to power corporate service

IFA network Tenet has acquired member firm The Employee Benefits Corporation and will use the acquisition to allow members to exploit the corporate advice space.

The network said that Tenet Employee Benefit Solutions would help advisers develop a corporate proposition by supporting project management and day-to-day administration.

Group risk, group private medical insurance and flexible benefit schemes will also be covered by the new proposition. Tenet said an insurance-backed human resources service, incorporating employment law, health and safety and staff contracts, was under development.

Tenet group distribution and development director Keith Richards (pictured) said the service would help advisers who otherwise would not be able to crack the corporate space.

'The corporate sector is something many advisers want to prosper in, but do not necessarily have the expertise or systems to enable them to do so,' he said.

'With pension reform just around the corner, we felt this was the perfect time for us to provide them with an end-to-end holistic employee benefits scheme.'