Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Evelyn Partners’ joint administrators assigned to Rowanmoor Personal Pensions Limited (RPPL) have exchanged contracts with Alltrust Services Limited for the sale of RPPL’s self-invested personal pension (SIPP) and family pension trust (FPT) businesses.
The deal is reportedly expected to be completed in February 2023, following Adam Stephens’ and Christopher Allen’s appointment as administrators of RPPL on 31 August this year.
Since August, the administrators have pursued an application under Paragraph 22 of Schedule B1 of the Insolvency Act 1986 with the consent of the FCA.
As part of the sale, the administrators confirmed that RPPL’s SIPP and FPT staff will transfer to Alltrust when the sale completes, ensuring that clients will experience minimal disruption in the process.
Meanwhile, Alltrust is an established provider of trusteeship and administration services for various types of pension schemes including SIPP structures, with a particular focus on offering flexible investment options for its clients.
Adam Stephens, lead administrator, said: “We are pleased to confirm that contracts have been exchanged for the sale of RPPL’s SIPP and FPT business to Alltrust, which we anticipate will complete in early 2023 and should provide continuity of service to RPPL’s clients.
“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.”
