SIPP and SSAS provider Curtis Banks has bought rival Montpelier Pension Administration Services (MPAS) for an undisclosed sum.
Curtis Banks said it will continue to buy up competitors as smaller SIPP providers and administrators are crushed by regulatory pressure. MPAS, the SIPP arm of advisory group Montpelier, closed to new business in March. In April, MPAS accounts revealed directors wished to sell the business amid "inherent uncertainty" about its future. The buyout will boost Curtis Banks' SIPP book to 3,000 clients, and includes the acquisition of MPAS existing adviser connections. Rupert Curtis, managing director of Curtis Banks, pictured, said: "This puts us in contention as a top ten bespoke SI...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes