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Fidelity completes Annuity Direct acquisition

Fidelity has completed the acquisition of retirement broker Annuity Direct for an undisclosed sum.

The deal, which was first announced in October last year, has now received regulator approval from the FCA.

Alan Higham will continue as chairman of Annuity Direct. In addition, he will take on the role of head of retirement insight at Fidelity.

Don Grant becomes Annuity Direct chief executive, while Bob Bullivant will continue to lead training and compliance for the Isle of Wight based firm.

Higham says: “At the start of this process, I decided that the most crucial factor for me was that the company we chose to work with shared the very same values as Annuity Direct.

“Having worked with Fidelity for almost two years now in the workplace savings market, as well as getting to know a number of people there, I know that this is absolutely the right fit and therefore the right decision. 

“I am extremely positive about what the future will bring and what Annuity Direct and Fidelity will be able to do together to really make a significant difference to people’s lives in retirement.”

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