Wealth manager and Financial Planner Titan Wealth has acquired Workplace Advice Group, a provider of workplace pensions which manages £200m for 1,459 schemes.
The deal will boost Titan Wealth’s assets under management and advice to £36bn.
Titan says that the deal underlines its commitment to the corporate benefits market, a sector Titan plans to grow in.
Stoke-based Workplace will complement Titan’s corporate benefits business run by Titan Wealth Planning (previously Aspira Corporate Solutions). Titan says it aims to expand its corporate book of clients via Titan Wealth Planning.
Workplace Advice Group was founded in 2013 and provides workplace pension services, including pension scheme setup and reviews, regulatory and compliance support and salary sacrifice solutions.
Workplace will work closely with Titan Wealth Planning and employers will be able to access Titan Wealth's investment solutions including Financial Planning for members of corporate schemes.
Andrew Fearon, joint group CEO at Titan Wealth, said: “The continued growth of our corporate pensions offering has been a long-term goal for the firm. The acquisition of Workplace Advice Group and its leading workplace pension solutions offering and strong track record aligns with our long-term growth ambitions.”
“This acquisition not only strengthens our presence in the corporate pensions market but also enhances our ability to provide comprehensive, high-quality services to our clients. As we integrate Workplace Advice Group into our operations, we will be poised to deliver even greater value to our clients, by leveraging synergies and expanding our reach.”
Tony Dolman of Workplace Advice Group, said: “We are pleased to announce this deal with Titan Wealth. This next phase of growth will benefit our clients with improved business scale. The business will continue to support clients in navigating rules and regulations to reduce costs and streamline services that allow everyone to benefit from robust workplace pensions.”
Titan Wealth has made several acquisitions in recent times including in January buying £525m AUM Jersey Financial Planner Advisa Wealth.
Titan Wealth also acquired Independent Wealth Planners (IWP) in December, a deal which added approximately £6.6bn of client assets to Titan Wealth. The deals are part of Titan Wealth's aim to boost its assets under management from £35bn to £100bn within the next five years.
