Guernsey-headquartered trust and pensions provider, The UAP Group (UAP) has completed its purchase of Alltrust Services Ltd in Cardiff (Alltrust).
In statement on 6 December, UAP said for clients and advisers, it's business as usual, except going forward Alltrust have new resources and capabilities to broaden and improve the group's services.
Rob Shipman, group CEO and co-founder of UAP, said: "Our company core values of challenging the status quo, working for our partners and doing things better have been built on our desire to deliver the best client experience. We are a client focused business, delivering modern solutions, through easy-to-use technology."
"The acquisition of Alltrust brings UAP a prestigious and well recognised pension brand, while also adding significant opportunities to the UAP business. By combining the innovative technological solutions of UAP with the expertise and strong reputation of Alltrust, we will be in a perfect position to continue enhancing our service while developing new and innovative solutions for the benefit of our clients. Expansion is our focus.
"We have exciting plans and as part of our acquisitions we have agreed to acquire the Rowanmoor SIPP business as this will enhance the Alltrust offering and provide much needed stability to the staff and clients of Rowanmoor."
Accordingly, the joint administrators and Alltrust do not anticipate that there will be any interruption to the services previously provided by Rowanmoor.
Clients and advisers will receive letters in the coming days which provide further details regarding the business sale.
Due to the ongoing postal strikes there may be a short delay in these letters being received, however further information including an updated FAQ document for clients is available on the dedicated RPPL administration webpage: www.evelyn.com/services/restructuring-and-recovery-services/rowanmoor-personal-pensions-limited.
Prior to entering administration RPPL specialised in the provision of scheme administration and scheme operation services in respect of SIPPs and FPTs. It administered c.4,000 SIPPs and c.800 FPTs, with a total investment value of c.£1.5bn.
UAP was established by founders Rob Shipman and James Floyd in response to a gap in the market for a dynamic trust and pension company, utilising the most current applications. On establishing UAP, the team developed a suite of products to meet the needs of people of any nationality, wherever they reside.
UAP employs a team of professionals in Guernsey, ensuring the rigorous regulatory requirements of each jurisdiction are managed by local specialists.
Both the UAP whom operate under Concept Group in Guernsey and Altrust pension offerings have been widely adopted.
"I am also delighted to confirm that current Director of Alltrust, Tim Williams, will stay on as Executive Director, and delighted to confirm UAP Founder James Floyd as Alltrust's new Managing Director, Tommy Burns and Rob Shipman as Non-Executive Directors while Hamid Nawaz-Khan will move into the role of Group Consultant."
"We value the experience of the whole team at Alltrust and look forward to a successful future," concluded Floyd.
The acquisition was approved by the Financial Conduct Authority (FCA) on 25th October 2022 and UAP was advised on the acquisition by Appleby corporate partner Stuart Tyler.
