Barnett Waddingham has announced that it has purchased Harsant Services Ltd (Harsant Pensions) for an undisclosed figure, in a deal which will see the firm add more than 400 SIPP and 70 SSAS clients to its existing book of business.
"Harsant Pensions and Barnett Waddingham have previously worked together and so this deal is very much a natural fit for us and our long-term business goals."
This acquisition of Wirral-based Harsant Pensions sees Barnett Waddingham’s SIPP portfolio increase to more than 2,725 schemes representing over £1bn assets under administration (AUA), while the firm’s SSAS portfolio will grow to more than 2,100 schemes with more than £3.6bn AUA. The deal will also see Barnett Waddingham take over the administration of a number of defined benefit and defined contribution schemes previously serviced by Harsant Pensions.
Julia Bassett, CEO, BWSIPP said: “We are excited to welcome the Harsant Pensions team and its clients and advisers to Barnett Waddingham. The acquisition of Harsant Pensions is very much a part of our gradual and considered growth strategy. Harsant Pensions and Barnett Waddingham have previously worked together and so this deal is very much a natural fit for us and our long-term business goals.”