Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Mattioli snaps up £190m Ashcourt subsidiary

Mattioli snaps up £190m Ashcourt subsidiary

Mattioli Woods has agreed to buy Ashcourt Rowan’s £190 million pensions administration business for £335,000.

The businesses, which Ashcourt acquired as part of its purchase of UK Wealth Management at the end of 2013, will be transferred for an initial £275,000 with a further £80,000 conditional on meeting performance targets.

‘We continue to see legislation affecting these markets and creating opportunities for consolidation, which is a key part of our growth strategy,’ said chief executive Ian Mattioli.

The sale includes pensions trustees Acomb Trustees, Simmonds Ford Trustees and Ropergate Trustees alongside ‘certain assets’ of Pension Administrations Limited.  The units will continue to offer pension services to Ashcourt Rowan businesses and clients.

‘Ashcourt Rowan continues to focus on our core businesses,’ said company chief executive Jonathan Polin (pictured). 

‘The administration of Sipp and Ssas schemes acquired with UKWM is non-core to our business, and this sale follows that announced last year of Ashcourt Rowan's own SIPP and SSAS business.  

‘During the last 12 months we have found Mattioli Woods to be a sound strategic partner with the expertise, scale and systems to give the very best Sipp and Ssas administration services to our client.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Insight's Waddington reveals infrastructure plays post-Carillion

Insight's Waddington reveals infrastructure plays post-Carillion

Post-Carillion Steve Waddington is still finding attractive plays in infrastructure.

1 Comment Play Mark Stevenson: oil is the dumbest place to put your money

Mark Stevenson: oil is the dumbest place to put your money

Futurist Mark Stevenson says that investing in oil is not just a risk to the environment but also your investment.

Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter