Isio to acquire Premier Pensions

Isio Group has acquired Premier Pensions Management, subject to Financial Conduct Authority (FCA) approval.

Isio stated that Premier was a complementary business that would enable the combined company to offer a “broader spectrum of pensions and financial advisory services” to firms and savers.

The acquisition will increase Isio’s workforce to 800 staff across nine locations in the UK, with the firm estimating that its annual revenues will reach around £100m.

It will expand Isio’s services to include employee benefits and wealth management, and enhance its existing pension administration, actuarial consulting and investment advisory services.

Commenting on the announcement, Isio chief executive, Andrew Coles, said: “Our independence has given us the ability to spread our wings, not only to grow organically but with the support of our investors, to invest in our core business and to identify and take the opportunity to acquire a complementary business that will accelerate our growth trajectory. 
 
“The UK’s pensions industry is undergoing a significant revolution. Innovative thinking and new ways of managing employer pension responsibilities, employee benefits and individuals’ wealth are required for the future of the UK’s financial services industry. 
 
“Acquiring Premier gives us the versatility to do this, by offering new and existing clients the full spectrum of employee benefits advice, actuarial consulting services, as well as wealth management, financial advisory and pension administration services.” 

Premier chief executive, Alastair Aird, added: “Isio’s ambition, its focus on people and culture, combined with its expertise and commitment to clients is very much aligned to our own business and the original proposition on which Dai Smith founded and has grown Premier. Together we see great opportunities to build a much stronger organisation.  
 
“We look forward to working with the team at Isio to bring the two companies together and create a unique position in the market as an agile, fast paced and complete pension, employee benefit and wealth adviser able to service the whole of the market.” 

Isio was previously the pensions advisory arm of KPMG and launched in March 2020, with Premier being its first acquisition.

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