Financial Planning and retirement savings provider Punter Southall Aspire is to acquire the employee benefits arm of accountancy firm BDO.

Punter Southall Aspire’s employee benefits business will be bolstered by the addition of 320 new corporate clients and a team of employee benefits specialists from BDO (formerly Moore Stephens LLP). The cost of the deal has not been disclosed.

The team will join Punter Southall Aspire’s team based at its City of London office and report to Alan Morahan, managing director of EB Consulting.  

Punter Southall Aspire has 140 employees and 1,600 clients and is part of the Punter Southall Group which includes Financial Planning firm Punter Southall Financial Management and Psigma Investment Management.

Stuart Stroud, formerly head of Employee Benefits at BDO, will become a principal in the London office of Punter Southall Aspire with the aim of driving business development. 

Punter Southall Aspire recently added a new authorised master trust - The Aspire Savings Trust. Other services include pensions and auto-enrolment consultancy, pensions governance services,  employee engagement and flexible employee benefits.

Steve Butler, chief executive of Punter Southall Aspire, said: “BDO is a highly respected advisory firm, known for its quality consultants and broad range of employee benefits services. There are also synergies between our companies; we share the same values and they are a great fit for us.”

“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.”

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