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@sipp acquires £150m SSAS book

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Sipp provider @sipp has bought SSAS firm Alfa Trustees for an undisclosed sum.

The deal adds £150m of assets held in SSAS, bringing @sipp’s total assets under adminstration to around £850m.

All Alfa staff will transfer to @sipp as a result.

@sipp managing director Eddie McGuire says: “Today’s deal underlines our strong capital position and signifies our desire to complete further acquisitions which offer complementary services or additional distribution options. The SSAS market is a core component of our growth strategy and this deal complements our existing SSAS expertise, and at the same time, provides wider distribution opportunities in the South East region.

Alfa Trustees director Gill Baynes says: “It was clear that @sipp’s outlook mirrored our own. We believe that aspects such as pension led funding options, enhanced investment flexibility and succession planning opportunities provides the framework for significant growth in the SSAS market.

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