SSAS Solutions has become part of listed wealth management group Mattioli Woods.
SSAS is a Belfast-based firm specialising in offering business owners tailored retirement schemes. Established in 2009 and now employing 12 staff, it provides pension administration and trustee services to more than 350 small self-administered scheme (SSAS) clients, with approximately £380m of assets under administration.
Director-owner Allison Chambers of SSAS expressed her appreciation of the role HNH played in the deal.
“We were delighted to work with the HNH team, who supported and guided us throughout the process. Their wealth of experience and negotiating skills were paramount in terms of the successful outcome,” she said.
This is the latest deal announcement in a sector for which consolidation has been a key recent theme. A trend that HNH believe will continue throughout 2019 and beyond.
“In recent months, we’ve seen Davy acquiring the former Danske wealth management business, 1825 acquiring BDO’s wealth management business and now Mattioli Woods acquiring SSAS Solutions,” said HNH Directors Richard Moorehead and Wayne Horwood.
“We were honoured to act as lead advisor to Allison and Michael and would be interested to speak with any other business owners in the sector who may be considering their options.”
Mattioli Woods said it will be business as usual for the SSAS Solutions team while it will also be looking to enhance the team as it expands its operations into the region, including the creation of a new administration hub for the group and the development of the existing client offering to include SIPPs (self-invested personal pensions).
“Being part of the Mattioli Woods group provides us with an additional resource and group support to enable the business to grow while still maintaining our strong client values, which also mirror those of Mattioli Woods,” said Allison Chambers and Michael Galway, director-owners of SSAS Solutions.
Mattioli Woods’ group managing director Murray Smith added: “We are thrilled to welcome the SSAS Solutions team into the Mattioli Woods family. A great opportunity to build on the success of an established business in Northern Ireland – where we already have a number of clients – we’ve known Michael and Allison for a number of years and have huge respect for the technical expertise their team offers.
“Their well-regarded skills and knowledge will be a valuable addition to our growing business, serving to further strengthen our services to clients and customers throughout Northern Ireland. We look forward to welcoming them to our expanding team.”
