Broadstone, the pensions consultancy formed from a buyout from BDO is buying independent actuarial and pensions consultancy Pope Anderson LLP for an undisclosed fee.
Pope Anderson provides actuarial, general pensions consultancy and investment consultancy advice to employers and trustees of UK occupational pension schemes, administration services to UK occupational pension schemes of all types and establishes and operates group personal pension schemes.
The acquisition is Broadstone’s first since its buyout from BDO and marks the first step of the Group’s strategy to acquire firms with similar business strategies or client base to its own. Broadstone says there is a high level of synergy between Pope Anderson’s business activities and its own trust-based pensions and scheme administration units within Broadstone Corporate Benefits. The combined business will develop its corporate pensions advisory services and its work in related areas such as investment consultancy and third party administration.
The acquisition follows the recent restructuring of Broadstone into two distinct businesses to service the needs of corporate and private client.
The Pope Anderson London team will relocate to the Broadstone’s offices at 55 Baker Street immediately. Pope Anderson’s Sheffield office, will create a new regional office for the group, providing a Northern hub for scheme administration and actuarial services.
Following the acquisition, Broadstone will have a team of 101 in the corporate benefits business and 220 staff in total across 8 UK locations.
Mark Howlett, chief executive of Broadstone says: “Securing this highly respected team from Pope Anderson underlines our future growth strategy in the corporate advisory sector and will enable us to continue to bridge the gap between those who offer financial advice and those who seek it.