Carey Pensions finds buyer despite looming judgement

Embattled SIPP provider

Hannah Godfrey
clock • 1 min read

STM Group has bought Carey Administration Holdings, which owns 70% of embattled SIPP provider Carey Pensions, for £400,000.

A market update this morning (9 October) confirmed STM Group had entered into an agreement with Carey Holdings. The deal would see it acquire both the self-invested personal pension (SIPP) business and Carey Corporate Pensions UK, which offers workplace pension solutions. The acquisition is subject to regulatory approval, and the first payment of £100,000 is due upon the first anniversary of the deal's completion. In March, Carey Pensions was accused of being "in bed with scammers" during a court case that saw the firm embattled with a former customer, lorry driver Russell Adams, who ...

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