Punter Southall Aspire has announced that it is purchasing accountancy and business firm BDO’s employee benefits business.

The financial planning and retirement savings company hopes that the deal will strengthen its own employee benefits business by adding 320 new corporate clients.

Punter Southall will bring in a team of employee benefits specialists from BDO, formerly known as Moore Stephens LLP, to join the firm at its London office.

Former BDO head of employee benefits, Stuart Stroud, will become a principal at Punter Southall and will attempt to drive business development while also focusing on employee benefit consulting.

Commenting on his appointment, Stroud said: “We are looking forward to becoming part of Punter Southall Aspire. The company is dynamic, forward thinking and fast growing.

“We also share the same ambitions – to improve the quality and accessibility of employee benefits to help employers attract, retain and engage their employees.”

Punter Southall hope that the acquisition will enable it offer clients a full range of employee benefits services, including its newly authorised master trust.

Its other services include pensions and auto-enrolment consultancy, pensions governance services, health and protection services, employee engagement, health and wellbeing, total reward and flexible employee benefits, as well as voluntary benefits.

Punter Southall Aspire CEO, Steve Butler, added: “This deal is another important milestone in our growth and development. Over the last few years, we have focused on building a leading workplace pensions, financial planning and employee benefits business, purchasing several companies starting with Ashcourt Rowan Corporate Services in 2015 through to BDO today.”

“Employee benefits are now a hugely important strategic tool for employers. Most employees have access to a pension today through auto-enrolment, so it’s become key for companies to offer the right employee benefits package to attract, retain and engage the best people.

“We are pleased that we can now provide a complete proposition for companies, from pensions consultancy through to employee benefits, well-being and engagement.”

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