"This is a good result and we thank all of Rowanmoor’s staff for their assistance and the company’s many clients for their patience whilst we work to finalise the sale.”
UAP Group, a pensions specialist headquartered in Guernsey recently acquired Alltrust Services.
Rob Shipman, group chief executive and co-founder of UAP, said: "We have exciting plans and as part of our acquisitions we have agreed to acquire the Rowanmoor Sipp business as this will enhance the Alltrust offering and provide much needed stability to the staff and clients of Rowanmoor.”
Administration
Rowanmoor Group Limited is the parent company for the three companies in the group.
These companies are Rowanmoor Executive Pensions Limited, which provides small self-administered scheme services, Rowanmoor Personal Pensions Limited, a Sipp operator authorised and regulated by the FCA, and Rowanmoor Trustees Limited, which provides trustee services.
The Ssas and Trustee firms provide non-regulated services and so neither company is authorised by the FCA.
Back in August, the directors of Rowanmoor Personal Pensions Limited appointed Adam Stephens and Chris Allen of Evelyn Partners as joint administrators after it was found to have failed in its due diligence of an introducer which advised on the unregulated investment.
amy.austin@ft.com
