At-retirement IFA My Pension Expert (MPE) has received FCA approval to accept a “significant investment” from Palatine Private Equity to fund its expansion plans.

My Pension Expert uses telephone and video-based services to provide independent financial advice nationally to clients at or near retirement.

Doncaster-based MPE says the extra money will accelerate its growth plans. The company aims to ensure people of “all wealth brackets” can receive retirement advice.

As part of the deal, My Money Expert has also completed debt refinancing with Beechbrook Capital. The company says that the new package from Beechbrook also includes potential for additional funds to be made available to fund further expansion.

Palatine’s investment was confirmed in May, with FCA change of controller approval being granted at the end of July. 

My Pension Expert was founded in 2010 and specialises in providing independent advice to UK consumers on their pension plans. The business has a carbon-neutral policy and is offsetting its carbon footprint by monthly contributions to a tree-planting programme in the UK and around the world.

Manchester-based Palatine was founded in 2005 by partners Gary Tipper, Ed Fazakerley and Tony Dickin. It aims to partner with management in business services, financial services, health, education and technology sectors.

Andrew Megson, executive chairman at My Pension Expert, said: “We are delighted to conclude the investment by Palatine. It will enable My Pension Expert to further build on its success over recent years and fast-track our growth as we deliver much-needed independent financial advice to people across the UK. 

Kieran Lawton, senior investment director at Palatine, said: “The My Pension Expert team have done an outstanding job to date, and we are very much looking forward to working alongside them to help the company grow quickly and reach its potential.

“The need for services and support like that provided by My Pension Expert has never been more important. Our focus will be on supporting Andrew and the team through value enhancement initiatives across digital, technology, people and sustainability in order to help them continue to build a highly trusted and fast-growing pensions advisory business.”