ZEDRA has announced the acquisition of professional independent trustee services provider, Clear Pen Solutions, as the advisory firm continues to expand its presence in the UK pensions market.

Clear Pen Solutions, which was founded over a decade ago, has clients that range in size from £250m to £6bn in assets under management.

Clear Pen Solutions CEO and owner, Stephen Yandle, will continue working for ZEDRA as part of the deal.

ZEDRA has now bought four independent trustee businesses, having previously acquired Inside Pensions Ltd and PTL Governance Limited in 2021, and Caledonian Trustees earlier this year.

“Having successfully grown Clear Pen Solutions over the last decade, I am delighted our clients will now benefit from the wider resources, greater resilience and deeper expertise that is on offer as we become part of ZEDRA," said Yandle.

"It’s been important to find a business with the right values and ethics to safeguard and develop our existing client relationships."

ZEDRA chief executive officer, Ivo Hemelraad, said that the challenge of running a pension scheme has become increasingly complex over recent years.

"It is no surprise that the number of pension schemes requiring additional support continues to grow," he said.

"We recognised this some time ago and, over the last few years, have planned our expansion to ensure we were well equipped to support schemes in meeting these challenges head on."

Kim Nash, who is set to become managing director of ZEDRA Governance from 1 November, added that the company's organic growth, together with recent acquisitions, has enabled ZEDRA to establish a team with the breadth and expertise to meet the evolving needs of pension schemes.

"We welcome Stephen and his clients to ZEDRA Governance," she said. "We will benefit greatly from his contribution and our team will be on hand to broaden and further strengthen the professional trustee services which his clients have come to rely on.”

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