Retirement solutions provider Partnership has sold online advice service Annuity Direct to Retirement Angels for an undisclosed sum.
Retirement Angels is a financial advice firm run by former PwC partner Alan Higham and Don Grant, formerly of Higham Group.
The deal remains subject to regulatory approval.
Bob Bullivant, chief executive of Annuity Direct, says: "Retirement Angels will bring areas of expertise in the retirement market that we could only dream of."
Steve Groves, chief executive of Partnership, adds: "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."
'Increasing range of platforms'
Who pays for platforms?
Investments hit by turbulence
Range launched in March 2017
Regulated v unregulated