FCA: Gaudi 'in administration' same day as SIPP sale

Comes the same day as it sold its £1bn strong SIPP business

Mark Battersby
clock • 1 min read

Self-invested personal pension (SIPP) provider Gaudi went into administration on the same day as it sold its pension business to platform provider Platform One, the Financial Conduct Authority (FCA) has confirmed.

Gaudi sold its pension business to Platform One in a £1bn deal yesterday (26 April) with the directors of Gaudi appointing qualified insolvency practitioners Sean Bucknall and Andrew Watling of Quantuma Advisory Limited as joint administrators at the same time. As Platform One has now taken over administration of Gaudi's SIPPs,  consumers who hold a SIPP administered by Gaudi can continue to contribute, withdraw, and make investment decisions as before.   Platform One will communicate next steps to consumers holding a SIPP administered by Gaudi, the FCA said.  "Gaudi was subject to...

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