Rowanmoor has been bought out of administration in deals that see its small self-administered scheme (SSAS) book acquired by WestBridge Group and its self-invested personal pension (SIPP) arm purchased by Alltrust.
Rowanmoor went bust in September following a series of Financial Ombudsman Services complaints linked to high-risk investments. Its SIPP and family trust business (FTB) has been taken over by provider Alltrust, the provider's joint administrators confirmed today (7 December) while WestBridge Group has acquired the 3,500-strong SSAS book of business for an undisclosed sum. All Rowanmoor employees will transfer to their respective new owners, the businesses confirmed. Alltrust provides trusteeship and administration services for various types of pension scheme including a variety of ...
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