London-based retirement advisory company Isio Group has bought administration firm Premier Pensions for an undisclosed sum.
The combined group will be able to offer pension and financial advice services to both individuals and companies.
The deal is subject to approval from the Financial Conduct Authority.
At completion, Isio intends to grow its pension and financial advisory services, as well as expand into employee benefits and wealth advice.
The wider group will comprise of 800 staff across nine locations in the UK, including Birmingham, Bristol, central London, Croydon, Edinburgh, Glasgow, Leeds, Manchester and Reading.
Bolster offering
Andrew Coles, chief executive of Isio Group, said: “The UK’s pensions industry is undergoing a significant revolution. Innovative thinking and new ways of managing employer pension responsibilities, employee benefits and individuals’ wealth are required for the future of the UK’s financial services industry.
“Acquiring Premier gives us the versatility to do this, by offering new and existing clients the full spectrum of employee benefits advice, actuarial consulting services, as well as wealth management, financial advisory and pension administration services.”
Alastair Aird, chief executive of Premier Pensions, added: “Isio’s ambition, its focus on people and culture, combined with its expertise and commitment to clients is very much aligned to our own business and the original proposition on which Dai Smith founded and has grown Premier.
“We look forward to working with the team at Isio to bring the two companies together and create a unique position in the market as an agile, fast paced and complete pension, employee benefit and wealth adviser able to service the whole of the market.”
Isio was set up in March 2020 with investment from UK private equity firm Exponent, while Premier was founded in 2003.
