InvestAcc Group has completed its acquisition of the AJ Bell Platinum self-invested personal pension (SIPP) and small self-administered scheme (SSAS) business.

The acquisition, for an undisclosed sum, brings InvestAcc Group’s total assets under administration to £9bn and client number to over 18,000.

It includes 3,400 new customers, 46 employees, new adviser relationships, and a Manchester office.

The Manchester-based Platinum SIPP and SSAS team will be integrated into InvestAcc Group.

Following the completion of the deal, InvestAcc Group Pension Administration has assumed responsibility for the administration, operation, and trustee services of the Platinum SIPP and SSAS schemes.

InvestAcc Group said that clients and advisers will continue working alongside the same administration teams who supported them under AJ Bell.

The group stressed that the move does not constitute a pension transfer to a different scheme or product, and its purchase of the AJ Bell Platinum Trustee companies means all investments continue as before, with no changes to client’s service arrangements or fee structures.

It added that Platinum SIPP clients would gain access to new commercial property and land purchases, cash management platforms, a soon-to-be rolled out online portal for SIPP information, and the option to borrow from connected parties under commercial terms.

InvestAcc Group CEO, Will Self, commented: “This acquisition represents a key step forward for InvestAcc Group, reinforcing our commitment to delivering high-quality pension services while expanding our reach and capabilities as we strive to become the UK’s leading specialist pension administrator.

“We’re thrilled to welcome our new colleagues and customers to the InvestAcc Group.”

---