Sipp and SSAS firm Talbot and Muir has acquired the SSAS administration business from Oval Financial Services for an undisclosed sum.
The acquisition adds approximately 200 SSASs to the current T&M portfolio of in excess of 500 schemes and follows the acquisition of the Oval Group by Arthur J. Gallagher.
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Graham Muir, principal of Talbot and Muir, said: "We met a stringent assessment and due diligence criteria to give Arthur J Gallagher the confidence that we will provide the best possible levels of service to their trustee clients in the future, in what is a highly specialised service area.
"We remain acquisitive and with the upcoming changes to the capital adequacy requirements for Sipp and SSAS firms, we anticipate that more books of business will be sold."
Tim Johnson, chief executive of UK employee benefits at Arthur J. Gallagher said: "Whilst we will continue to provide investment advice to our SSAS clients, an extensive review of our SSAS business highlighted the fact that we could improve the service to our clients with greater administrative focus and expertise.
"We have therefore decided to outsource our SSAS administration to the independent SSAS specialist, Talbot and Muir.
"I have every confidence that our clients and the affected employees will benefit from the arrangement."