The Westerby Group has announced the acquisition of the specialist pension provider and Independent Financial Adviser (IFA) Redswan Ltd.
The asset purchase of Manchester-based Redswan’s IFA business and two trustee companies for Self Invested Personal Pensions (SIPP) and Small Self-Administered Schemes (SSAS) means they are now part of the Westerby Group.
The deal marks the latest acquisition by Westerby, which recently became an Employee Ownership Trust (EOT), when the chairman and founder Les McLintic transferred all his ordinary voting shares in the company to the trust to make employees beneficiaries of any future profits the company makes.
The acquisition is part of an established growth strategy of acquiring businesses within the Independent Financial Advice and specialist SSAS and SIPP pension sectors.
Commenting on the news, Westerby chairman Les McLintic said, “We are delighted to announce the purchase of Redswan Ltd. We would like to extend a warm welcome to all Redswan clients and professional connections as the brand integrates into Westerby.”
Westerby will retain Redswan’s staff and in doing so establish a presence in Manchester in addition to its locations in Andover Street and The Crescent, King Street in Leicester city centre and its offices in Weymouth.
Redswan Ltd managing director Mark Andrews comments, “We are confident that integrating Redswan’s portfolio into the Westerby brand will provide our valued clients with continuity of the trusted service they rely on, with the added benefit of retaining their relationships with the Redswan team in Manchester.”
The Westerby Group consists of three companies. Founded in 1986, Westerby Investment Management Ltd is a provider of specialist financial, taxation and independent investment advice. Established in 1996, Westerby Trustees Services Ltd “The Pension Specialists” are experts in the trusteeship and administration of Self Invested Personal Pension Schemes (SIPP), whilst Westerby Pension Administration Ltd specialises in the trusteeship and administration of Small Self-Administered Schemes (SSAS).
This latest acquisition means the Westerby Group’s total assets under trusteeship, administration and advice are now over £1.66 billion servicing over 5,000 clients.
“As a strong and resilient business with a proven track record of successfully integrating the businesses we acquire into the Westerby Group, we look forward to extending our expertise to our latest portfolio of new clients,” adds Westerby’s group managing director, Stephen Harvey.
