Mattioli Woods has acquired the pension administration business of advice firm Lindley Group for £199,001.
The deal, which is worth a total of £230,000 including deal costs, will see Mattioli take charge of over 130 small self-administered pension schemes, with assets under management of £116m.
In 2014 the pension business generated over £310,000 of revenues for Lindley Group.
Mattioli Woods chief executive Ian Mattioli says: “This acquisition extends the existing relationships we have with intermediaries like the Lindley Group, where Mattioli Woods has proven to be a sound strategic partner with the expertise, scale and systems to give the very best Sipp and SSAS administration, delivering an enhanced service and long-term security for clients.
“With increasing complexity and continuing consolidation in both the Sipp and SSAS sectors, we anticipate there will be further opportunities to expand Mattioli Woods’ pension administration business by acquisition, accelerating the group’s growth.”