Barnett Waddingham has purchased Harsant Pensions for an undisclosed figure, in a deal which will see the firm take over the administration of five occupational pension schemes.

A total of four defined benefit schemes and one defined contribution pension scheme will be transferred as part of the acquisition.

Further, more than 400 SIPP and SSAS clients will be added to the firm’s existing book of business.

Barnett Waddingham said its SIPP portfolio will increase to more than 2,725 schemes representing over £1bn assets under administration and its SSAS portfolio will grow to more than 2,100 schemes with more than £3.6bn AUA.

“The acquisition of Harsant Pensions is very much part of our gradual and considered growth strategy,” Barnett Waddingham SIPP CEO Julia Bassett said.

“Harsant Pensions and Barnett Waddingham have previously worked together and so this deal is very much a natural fit for us and our long term business goals.”

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