Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and 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 Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter