Transfer of SIPPs operated by Stadia Trustees
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16 February 2016 |
Mattioli Woods plc
("Mattioli Woods" or "the Group")
Transfer of SIPPs operated by Stadia Trustees Limited
Mattioli Woods plc (AIM: MTW.L), the specialist wealth management and employee benefits business, announces that on 15 February 2016 it was appointed to administer the Stadia SIPP, Noisnep SIPP, Essential SIPP, Essex Community Foundation SIPP, Hero SIPP, Investor Club SIPP, Ipswich SIPP, Liberator SIPP and Munro SIPP ("the Schemes") by the Schemes' operator, Stadia Trustees Limited ("Stadia"), working in conjunction with the Financial Conduct Authority.
Following a variation of permission in 2013, Stadia was forced to cease accepting new business and now intends to wind-up the Schemes, securing the benefits of members by transferring their assets to alternative pension arrangements.
Mattioli Woods has worked closely with Stadia to secure its appointment to administer the wind-up of the Schemes and transfer members' assets to new pension arrangements, including a default arrangement provided by Mattioli Woods, for a consideration of £120,000 payable over a three month period following completion. The estimated total value of clients' assets is £100 million, held between circa 1,200 separate arrangements.
Ian Mattioli, Chief Executive, comments:
"Our technical expertise and reputation in the SIPP market has driven this opportunity. We look forward to working closely with members of the Stadia schemes to deliver bespoke personal service and specialist advice."
- Ends -
For further information please contact:
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Mattioli Woods plc |
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Ian Mattioli, Chief Executive |
Tel: +44 (0) 116 240 8700 |
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Nathan Imlach, Finance Director |
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Canaccord Genuity Limited |
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Sunil Duggal |
Tel: +44 (0) 20 7523 8350 |
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Roger Lambert |
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Kit Stephenson |
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Media enquiries:
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Camarco |
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Ed Gascoigne-Pees |
Tel: +44 (0) 20 3757 4984 |
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Notes to editors
Mattioli Woods is one of the UK's leading and fastest growing providers of specialist pension, wealth management and employee benefit services. Its core pension and wealth management offering serves the higher end of the market including controlling directors and owner-managed businesses, professionals, executives, and affluent retirees. Its comprehensive range of employee benefit services is particularly suitable for medium-sized to larger corporates.
The Group's broader wealth management proposition has grown from its strong pensions advisory and administration expertise, with a client base of over 7,500 self-invested personal pensions ("SIPP") and small self-administered pension schemes ("SSAS") throughout the UK. The Group's total assets under management, administration and advice are in excess of £6.5 billion.
Mattioli Woods has a focus on holistic planning and providing the highest level of personal service, maintaining very close relationships with all its clients. The strength of its personal relationships has led to high levels of client satisfaction, retention and referrals.
For more information, visit www.mattioli-woods.com.
This information is provided by RNS
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