Curtis Banks has completed the purchase of wealth manager Hargreave Hale’s book of self-invested personal pensions (SIPPs).
The purchase included some 600 SIPPs invested in assets valued at approximately £180m. Hargreave Hale will continue actively to manage the invested assets , while Curtis Banks will be responsible for the administration of the SIPPs.
The move marks the 10th asset purchase by Curtis Banks since the company was founded in 2009.
Curtis Banks group CEO Rupert Curtis said: “This book of SIPPs from Hargreave Hale is a good fit for our business model and the clients will benefit from the high-quality service-led proposition we provide.
“Having carefully taken the time to integrate Suffolk Life, our largest acquisition to date, we’re able to explore further opportunities to add scale and expand our offering to greater numbers of clients.”
‘Core component’
Will Self, the incoming Curtis Banks CEO as of January, added: “Investing to add high-quality assets is a core component of our future growth strategy. We also see great potential for improving organic growth, by better meeting the needs of advisers and their clients.
“We will soon launch a new SIPP product to market and are targeting an increased rate of growth in 2019.”