James Hay has sold its closed book of small self-administered schemes (SSAS) to Westbridge SSAS for an undisclosed sum.
James Hay, which last month bought rival platform Nucleus for £145m, said the disposal was another significant step in its transformation to a "retirement-focused adviser platform". Westbridge SSAS, based in Leicester, will take over the administration of close to 1,000 SSAS. Some 48 members of staff, based at James Hay's Bristol office, will transfer when the deal completes later this month. James Hay's SSAS book had been closed for some time, it said. The last scheme taken on was in 2018. Since then the firm has focused its attention on its SIPP platform business. Chief executiv...
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