Alltrust Services will acquire Phoenix Wealth’s Family Suntrust schemes later in 2026 and reopen the proposition to new business for the first time in several years.
This will make Alltrust the only SIPP provider in the UK accepting new business into a Family Pension Trust, the group said.
The deal will see Family Suntrust brought together with Alltrust’s Family Pension Trust, with both group SIPPs having been developed at the same time.
James Floyd, managing director of Alltrust, said: “Bringing the Family Suntrust and the Alltrust Family Pension Trust back together is a significant moment for our industry.
“These products were originally developed to meet a specific demand for pooled family pension structures. Having already provided a long-term home for the Rowanmoor Family Pension Trust book, we are now investing further in the technology, governance and service capabilities required to deliver a first-class experience for members and their advisers. We are committed to being a lasting home for the family pension trust proposition.”
Jenny Holt, product director, Phoenix Wealth, added: “Alltrust has deep specialism in bespoke Family Pension Trust arrangements and a clear strategic commitment to this market.
“Ensuring continuity of service for advisers and clients is our priority, and we are working closely with Alltrust to ensure a smooth and straightforward transition.”
Members and their advisers are being informed of the deal and are not required to take immediate action. There will be no change to underlying investment holdings or trustee protections as a result of the transfer.
