Isio broadens offering with Premier purchase

26 September 2021 4 min. read
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Isio has announced the acquisition of Premier Pensions Management. The acquired business will help Isio provide a broader spectrum of pensions and financial advisory services to companies and individuals. 

Actuarial consultancy Isio was formed from a management buyout of KPMG’s pensions practice, which was finalised in early 2020. The independent firm started life with more than 1,000 clients, ranging from mid-sized companies to FTSE 100s – and to build on this early momentum, Isio has committed to a rapid expansion campaign through 2021.

As well as adding to its network of offices across the UK, Isio has added 130 new financial professionals to its team since March last year. At the same time, it has built a high-quality corporate function team.  

Isio broadens offering with Premier purchase

Now, as Isio looks to further expand its services, it has purchased Premier Pensions Management. The acquisition of Premier – which is subject to approval from the FCA – is expected to enhance Isio’s existing services of pensions administration, actuarial consulting and investment advisory, while also helping grow its services to include employee benefits and wealth management.  

Andrew Coles, Chief Executive of Isio, commented, “Innovative thinking and new ways of managing employer pension responsibilities, employee benefits and individuals’ wealth are required for the future of the UK’s financial services industry. Acquiring Premier gives us the versatility to do this, by offering new and existing clients the full spectrum of employee benefits advice, actuarial consulting services, as well as wealth management, financial advisory and pension administration services.” 

Premier’s pensions administration business is highly respected, benefitting from many years of investment in technology and automation. Founded in 2003, the consultancy now has 200 employees, providing advice and support to individuals, trustees and companies on pension, wealth and benefit matters. It advises a range of clients, from FTSE100 organisations to regional-based companies, while its fast-growing financial services business provides advice to individuals as well as managing the contract based pensions and benefit programmes for a range of companies. 

Alastair Aird, Chief Executive of Premier, added, “Isio’s ambition, its focus on people and culture, combined with its expertise and commitment to clients is very much aligned to our own business and the original proposition on which Dai Smith founded and has grown Premier… We look forward to creating a unique position in the market as an agile, fast paced and complete pension, employee benefit and wealth adviser able to service the whole of the market.” 

With Premier on board, the enlarged Isio Group will now comprise of 800 staff across nine locations in the UK. Its locations in Birmingham, Bristol, Central London, Croydon, Edinburgh, Glasgow, Leeds, Manchester and Reading will command estimated annual revenues of around £100 million.