Firm acquires over 500 SSAS and Sipps clients

Barnett Waddingham has purchased Chase de Vere's Sipp and SSAS book for an undisclosed fee, it announced this morning. The deal involves the firm adding 250 Sipp and 275 SSAS clients to its existing book of business.This acquisition of Chase de Vere's Sipp & SSAS business will see Barnett Waddingham's Sipp portfolio increase to more than 2,975 schemes representing over £1bn assets under administration.The firm's SSAS portfolio will grow to 2,500 schemes and break over the £4bn AUA mark for the first time.The deal follows a successful year of growth for the firm, with the launch of the Barnett Waddingham Flexible Sipp in July, and the acquisition of Sipp and SSAS firm, Harsant Pensions, in August. {desktop}{/desktop}{mobile}{/mobile} Julia Bassett, partner at Barnett Waddingham, said: "It's been an exceptional year for our Sipp and SSAS businesses, first with the launch of our new Flexible Sipp and the purchase of Harsant Pensions in the summer, and now with the acquisition of Chase de Vere's Sipp & SSAS book."Our number one priority remains providing excellent customer service and we are very pleased to welcome Chase de Vere clients to Barnett Waddingham."Meanwhile, the firm has backed the idea of a single regulator.A possible merger of the Financial Conduct Authority and the Pensions Regulator has been floated after Pensions Minister Steve Webb suggested this was likely in the longer term.Malcolm McLean, senior consultant, Barnett Waddingham, said: "The view of many in the pensions industry is that the big increases in defined contribution pensions brought in by auto-enrolment will mean that the current regulatory split will become more and more unbalanced and unsustainable over time."In my view it would be beneficial and less confusing to everyone, not least the scheme members themselves, if the clear overlap between the two bodies were eliminated by merging the functions as soon as possible."He said 2018 when the current auto-enrolment staging programme is complete might be the right time for the creation of a single regulator.

Firm acquires over 500 SSAS and Sipps clients

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