Isio Group, the pension consultancy spun out of KPMG, has bought Premier Pensions Management.
Isio’s first purchase since launch in 2020 will allow it to broaden the spectrum of pensions and financial advisory services it can deliver to companies and individuals.
The firm, launched with investment backing from Exponent, has recruited 130 new financial professionals.
Premier’s pensions administration business will be added to Isio’s existing services of pensions administration, actuarial consulting and investment advisory and will also expand its services to include employee benefits and wealth management.
The enlarged Isio Group will comprise of 800 staff across nine locations in the UK – Birmingham, Bristol, Central London, Croydon, Edinburgh, Glasgow, Leeds, Manchester and Reading – with estimated annual revenues of around £100m.
Isio chief executive Andrew Coles says: “Our independence has given us the ability to spread our wings, not only to grow organically but with the support of our investors, to invest in our core business and to identify and take the opportunity to acquire a complementary business that will accelerate our growth trajectory.
“The UK’s pensions industry is undergoing a significant revolution. Innovative thinking and new ways of managing employer pension responsibilities, employee benefits and individuals’ wealth are required for the future of the UK’s financial services industry.
“Acquiring Premier gives us the versatility to do this, by offering new and existing clients the full spectrum of employee benefits advice, actuarial consulting services, as well as wealth management and financial advisory and pension administration services.”
Premier chief executive Alastair Aird says: “Isio’s ambition, its focus on people and culture, combined with its expertise and commitment to clients is very much aligned to our own business and the original proposition on which Dai Smith founded and has grown Premier. Together we see great opportunities to build a much stronger organisation.
“We look forward to working with the team at Isio to bring the two companies together and create a unique position in the market as an agile, fast paced and complete pension, employee benefit and wealth adviser able to service the whole of the market.”
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