Curtis Banks Group PLC is looking for opportunities to acquire self-invested personal pension books that can bring value to the group, FTAdviser reported Sept. 5, citing CEO Will Self.
Self said the move is part of the British self-invested personal pension, or Sipp, provider's strategy to consolidate the U.K. Sipp market, adding that that the group has developed a flexible approach to transactions to target customer outcomes and work alongside firms with their strategic reviews.
"We will only acquire assets that are a genuine value proposition and are value and earnings accretive," Self said. The company's acquisition of Hargreave Hale Ltd.'s Sipp book, purchased in 2018, is now integrated into the group.
Earlier in February, the company launched the "Your Future Sipp" product, which combined elements of previous offerings by Curtis Banks and Suffolk Life Group Ltd., which it acquired in 2016, according to the report. The company's digital Sipp is also in the final stages of enhancements.
For the six months to June-end, the group's assets under administration rose by 9.6% year over year to £27.5 billion. The number of Sipps administered by the firm was down 0.5% on a yearly basis to 77,175, the report noted.
