Dentons Pension Management has acquired RSM Tenon's bespoke Sipp arm Tenon Pension Trustees Limited for an undisclosed sum.
The acquisition will see Dentons add approximately 650 SIPP plans to its existing book of Sipps.

Martyn Rose, chairman of Dentons, said: "We have made no secret that we are acquisitive, but it has to be for the right businesses or books of Sipps. We are therefore very happy with the acquisition as it is a perfect fit for us being high quality and with the same underlying ethos of placing the client at the heart of everything we do. We are committed to the Sipp and SSAS market and despite the current market uncertainty over capital adequacy we are a strong and well capitalised business and an active consolidator."

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David Fox, director of sales and marketing at Dentons said: "At a time of uncertainty for many providers this acquisition is a strong statement of intent by Dentons.

"We believe it is our financial strength and reputation that makes us an ideal partner. We are looking forward to building strong strategic relationship with RSM Tenon and their advisers. This acquisition is also evidence that consolidation is continuing in the Sipp market, ahead of the final capital adequacy rules.

Dentons Pension Management Limited is a Sipp specialist. It initially specialised in Small Self Administered Schemes (SSASs) when the company was established in the late 1970s but has additionally specialised in Self Invested Personal Pensions (Sipps) since 1996. The company is independently owned with 56 staff and has grown largely as a result of reputation and positive word of mouth.