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 Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: from managing Brunei’s billions to Dorking’s pension pots

Profile: from managing Brunei’s billions to Dorking’s pension pots

Mole Valley Asset Management's boss on why he chucked in multi-billion mandates for Surrey wealth management

Wealth Manager on Twitter