STM acquires Berkeley Burke SSAS and international businesses in £3m deal

Sophie King
clock • 2 min read

STM Group has acquired failed self-invested personal pension (SIPP) provider Berkeley Burke’s small self-administered (SSAS) scheme and its international pension businesses in a deal worth almost £3m.

According to a note on the Stock Exchange published today (August 11), STM has bought 100% of the share capital of Berkeley Burke and Berkeley Burke Employee Benefit Consultants. All of the acquired businesses will be integrated into Options UK, a subsidiary of STM, which was formerly known as Carey Pensions. The acquisition, which is not subject to regulatory approval, will be for a maximum consideration of £2.9m, comprises of £1.4m initial consideration and a further £1.5m of contingent deferred consideration. Berkeley Burke's SIPP arm fell into administration in September 2019 f...

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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Fairstone refines buyout terms to focus on high-growth potential IFAs

Fairstone refines buyout terms to focus on high-growth potential IFAs

Updated DBO model to ‘support increased valuations’

Jenna Brown
clock 30 April 2025 • 2 min read
L&G drops fracture cover in critical illness and income protection overhaul

L&G drops fracture cover in critical illness and income protection overhaul

Increased pay out amounts

Jaskeet Briah
clock 29 April 2025 • 3 min read
Advisers could add 20 more clients annually with AI support

Advisers could add 20 more clients annually with AI support

Early adoption of artificial intelligence tools is boosting adviser efficiency

Sahar Nazir
clock 28 April 2025 • 2 min read