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Hartley Pensions buys collapsed Sipp administrator

The joint administrators of GPC Sipp have sold it to Hartley Pensions for an undisclosed sum.

Adam Stephens and Henry Shinners of Smith & Williamson were appointed as joint administrators of GPC with the consent of the FCA on June 11, 2019.

The deal was completed on August 12 and transfers the Sipp and SSASs books to Hartley.

GPC Sipp specialises in the provision of technical and administration services to Guardian Pension Trustees Limited, which acts as the corporate trustee of Sipps and SSASs.

It administers around 3,200 Sipps and around 50 SSASs, with a total investment value of roughly £130m.

Hartley is part of the Wilton Group, and manages more than £1bn of clients’ assets.

Lead administrator Adam Stephens says: “We are pleased to confirm the sale of the business to Hartley, which will provide continuity of service to GPC’s clients.  We recognise that the insolvency of GPC may have been unsettling to clients.”

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