Ashcourt Rowan PLC Disposal of SIPP and SSAS businesses (7180O)
11 8월 2014 - 3:00PM
UK Regulatory
TIDMARP
RNS Number : 7180O
Ashcourt Rowan PLC
11 August 2014
Ashcourt Rowan sells further SIPP and SSAS business to Mattioli
Woods for up to GBP0.355 million
London, 11 August 2014: Ashcourt Rowan has agreed to sell the
SIPP and SSAS business acquired with UK Wealth Management to City
Trustees, a subsidiary of Mattioli Woods plc for total
consideration of up to GBP0.355 million. The acquisition of UK
Wealth Management completed in April 2014.
The sale comprises the pension trustee companies, Acomb Trustees
Limited, Simmonds Ford Trustees Limited and Ropergate Trustees
Limited, and the trade and certain assets of Pensions
Administration Limited. Initial consideration of GBP0.275 million
is payable together with further deferred payments of up to
GBP0.080 million subject to certain revenue targets being met
during the two years following completion.
SIPP and SSAS clients will continue to receive advisory and
portfolio management services from Ashcourt Rowan Corporate
Solutions, Ashcourt Rowan Asset Management and Ashcourt Rowan
Financial Planning. However, the administration of their pensions
will be transferred to Mattioli Woods' pension administration and
trustee services arm, City Trustees.
Jonathan Polin, Group Chief Executive of Ashcourt Rowan,
commented:
"Ashcourt Rowan continues to focus on our core businesses. The
administration of SIPP and SSAS schemes acquired with UKWM is
non-core to our business, and this sale follows that announced last
year of Ashcourt Rowan's own SIPP and SSAS business. During the
last 12 months we have found Mattioli Woods to be a sound strategic
partner with the expertise, scale and systems to give the very best
SIPP and SSAS administration services to our clients."
- ENDS -
For further information please contact:
Maitland Ashcourt Rowan
Marina Burton/ Daniel Yea Sonal Hirani, marketing manager
Tel: 020 7379 5151 Tel: 020 7871 7338
Email: ashcourtrowan@maitland.co.uk Email: sonalhirani@ashcourtrowan.com
About Ashcourt Rowan plc
Ashcourt Rowan plc provides a range of expert, integrated wealth
management and employee benefits consultancy services for
individuals, families, charities and trusts, business owners and
employers.
Its financial planners, investment managers and consultants
deliver services to clients on a face-to-face basis nationally,
supported by dedicated technical departments in London and
Leeds.
Headquartered in the City of London, Ashcourt Rowan has offices
in Bath, Bournemouth, Brighton, Cambridge, Chelmsford, Exeter,
Leeds, Macclesfield, Maidstone, Manchester, Rugby, Salisbury, St
Andrews, Winchester and York.
www.ashcourtrowan.com
.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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