Smith and Williamson has announced it has concluded the sale of Corporate and Professional Pensions to Westerby Trustee Services Limited following a period of marketing.
The deal, which was completed on 17 March 2022, included the effective transfer of the self-invested personal pensions and small self-administered schemes.
Adam Stephens and Nick Myers of Smith and Williamson were appointed as joint administrators of CPPL, pursuant to an application made under Paragraph 22 of Schedule B1 of the Insolvency Act 1986 and with the consent of the FCA, on 1 February 2022.
CPPL specialised in the provision of technical and administration services to C&P Pensions Ltd which acted as the corporate trustee of SIPPs.
Westerby is an established specialist of trusteeship and administration services for SIPP and SSAS providers with over 25 years’ experience in the financial services industry and is one of only a small number of independent trustees that offer their own SIPP and SSAS plans.
Adam Stephens, lead administrator, said: “We are pleased to confirm the sale of the business to Westerby, which will provide continuity of service to CPPL’s clients. We recognise that the insolvency of CPPL may have been unsettling to clients.”