Enrich launches pensions arm as Gissings’ two-year non-compete clause expires

Enrich, the benefits and reward company formed from the group risk business of Gissings, is launching a pensions service two years after the organisation was cut in two by a management buy-out.

Following the MBO from Gissings in October 2007, Enrich remained under a non-compete agreement not to enter the pensions market for a period of two years.
The firm says the new pensions service will allow clients to offer a full range of reward and benefits solutions.The Enrich pensions offering will focus on DC solutions and transfers away from DB legacy schemes and will encompass a range of consultancy advice, including pension scheme governance, salary sacrifice, scheme review, investment advice, consolidation, corporate wrap and member modelling tools.
Gissings Consultancy Services, the pensions arm of the business, was bought by Capita Hartshead last June. Andrew Kilbey, the managing director who led the MBO on behalf of Enrich, left the firm several months ago.
Robert Morgan, chairman of Enrich says: “Enrich has ambitious plans for growth this year to satisfy employers’ needs for a complete reward and benefits solution. Pensions is the first service launch in 2010 and will be closely followed by further announcements during the year.”