Curtis Banks has met all of the pre-conditions to acquire rival SIPP provider Talbot and Muir, including approval from the Financial Conduct Authority.
Completion of the £25m deal will occur on 30 October, around three months after the acquisition plans were first announced.
Talbot and Muir, an independent self-invested personal pension (SIPP) and small self-administered scheme (SSAS) provider, has 75 staff with offices in Nottingham and Leeds. Its administers more than 7,000 pensions with assets under administration of about £3.4bn.
Curtis Banks CEO Will Self said: “I am delighted that the acquisition of Talbot and Muir will complete at the end of the month. Our two businesses are highly compatible in terms of the culture, service offering and distribution routes and this combination reinforces our position as a leading SIPP provider in the UK whilst also being immediately earnings enhancing for the group as a whole.
“I very much welcome the Talbot and Muir team into the Curtis Banks Group and I look forward to working with them to drive the future growth of the business.”
Curtis Banks has also recently acquired fintech firm Dunstan Thomas.
Dunstan Thomas specialises in business solutions for wealth managers, platforms and providers. It already worked with Curtis Banks on its secure portal and also boasts Seven Investment Management, Aegon and Novia as clients.