Liverpool-based HS Administrative Services Ltd (HS Admin) has acquired the third-party administration (TPA) book of Ascot Lloyd.
HS Admin is a long-established TPA specialist, providing third-party administration and related services to defined benefit, defined contribution, and other occupational pension schemes. It currently administers more than GBP3 billion of DB/DC pension scheme assets as well as cGBP1 billion of Master Trust assets.
In October 2010, HS Admin became part of Goddard Perry, a group of companies providing a diversified range of advice and products, spanning actuarial and pension administration services to online benefits and independent advice (IFA).
As part of the deal, which completed on Friday 4th June, Ascot Lloyd’s Employee Benefits Division will move to Goddard Perry Employee Benefits Ltd.
The staff of both divisions at Ascot Lloyd will transfer to HS Admin and Goddard Perry Employee Benefits respectively, under the Transfer of Undertakings (Protection of Employment) (TUPE) regulations.
Graham Hickling, MD of HS Admin, says: “We are delighted to welcome the staff from Ascot Lloyd as part of this acquisition and very much look forward to working with the Harrogate based Administration team. We have always focused on delivering our clients and their scheme members with the best possible outcomes, underpinned by our technical expertise and quality service. This latest deal re-affirms our commitment to the TPA market as we continue to build a successful business across the DB, DC and Master Trust market-place.”
Gordon Kerr, Capital & Professional Group, says: “The Ascot Lloyd Harrogate team has been a valued part of our business, providing an excellent level of service to our trusted clients. HS Admin and Goddard Perry Employee Benefits have been working closely with Ascot Lloyd for some time, and have an excellent reputation. We’re confident both our staff and clients will benefit from being part of a larger specialist business, focused on providing leading third-party pensions administration, consulting and employee benefit services.”