WBR Group (WBR), the independent provider of SSAS administration and tax advisory services, has acquired Standard Life’s small self administered scheme (SSAS) book of business.
This acquisition marks a significant milestone in WBR’s long standing relationship with Standard Life, having administered this SSAS book for over 20 years.
The Standard Life SSAS book of business consists of 270 schemes with 246 properties and £403m in assets under administration.
Clients will continue to be managed by the same dedicated team, ensuring no disruption in service. The only change they may notice will be a slight branding change, reflecting WBR Group’s identity.
There will be a change of trustee from Standard Life Trustee Company Limited (SLTC) to WBR Trustees Limited.
This acquisition will allow clients to benefit from WBR’s specialised expertise and clients will gain access to additional investment options and services.
Martin Tilley, Director of WBR Group, said: “We are really pleased to have the opportunity to acquire the Standard Life SSAS book of business that we have administered under an outsourcing agreement for over 20 years.
“This is an unusual acquisition of a book we obviously know well. The clients will notice very little difference in the service other than having access to a wider range of investment options and potentially enhanced bank interest rates obtainable through our collective buying power.”
Jenny Holt, Product Director at Standard Life, part of Phoenix Group, said: “The SSAS market is specialist and these clients can have complex business and retirement planning needs.
“Transferring schemes will benefit from the services and solutions of a provider focused on meeting these needs while also allowing us to focus on our core Workplace and Retail propositions.”
