A Leicester pensions specialist has bought a Dorset-based firm out of administration.
Westerby Trustee Service, a specialist self-invested personal pension provider for individuals and businesses, has acquired Corporate & Professional Pensions (CPPL).
Weymouth-based CPPL entered administration earlier this year and the deal means all of its staff will transfer to Leicester city centre-based Westerby.
It means the broader Westerby Group’s total assets under trusteeship, administration and advice is now more than £1.5 billion with around 5,000 clients.
Westerby Group managing director Steve Harvey said keeping CPPL’s Weymouth office and staff would provide a continuity of service while the two businesses were integrated.
He said: “We are delighted to announce our acquisition of CPPL.
“CPPL has great synergy with Westerby as it provides a high level of service to its customers in the specialist area of Self Invested Personal Pensions (SIPP) and Small Self-Administered Schemes (SSAS).
“So, we are very much looking forward to this exciting new chapter as CPPL becomes part of the Westerby brand.
“We would like to extend a warm welcome to all of the CPPL clients and professional connections and offer reassurance that the transition process will be smooth with no disruption to the service they are accustomed to receiving.
“Not only that, we look forward to CPPL’s staff and clients joining us as we will all benefit from their integration into the Westerby brand.”
Westerby Group chairman Les McLintic said: “As a company, Westerby has been growing organically for over 30 years.
“This acquisition will not only enhance our growth strategy, but it will also contribute to our long-term future strength in the industry.”
Westerby Trustee Services was established in 1996 and the Westerby Group also includes Westerby Investment Management, which has been providing specialist financial, taxation and independent investment advice for individuals and businesses from its Leicester city centre base since 1987.
