Alliance Trust Savings has sold its small self-administered scheme (SSAS) business to Xafinity's specialist arm, Hazell Carr SSAS.
Alliance Trust Savings sold its SSAS book as it was no longer core to its business.
Patrick Mill, distribution director at Alliance Trust Savings commented: "We anticipate significant growth opportunities in the advised platform market over the next few years as a result of the FSA's Retail Distribution Review and approach to Platform regulation.
"Consolidation in the SSAS market has meant that fewer providers can continue to offer the type of broad service offering that Xafinity can provide.
"Therefore, we have chosen to focus on our core business while selecting a buyer who will enhance the service offering to our SSAS clients."
Xafinity director of self-invested pensions Andy Bowsher added: "Xafinity will ensure these clients quickly benefit from our scale of technical competence and operational depth."
Alliance Trust Savings administers more than £6bn of assets for more than 63,000 customers and provides access to over 25,000 investments through its SIPP, ISA and Dealing Accounts.
Questionnaires sent to firms
Expecting to recover around £200m
Financial regulators renew anti-pensions scam campaign
Our weekly heads-up for advisers