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Hargreave Hale sells Sipp business to Curtis Banks

Hargreave Hale sells Sipp business to Curtis Banks

Hargreave Hale has sold its Sipp business to Curtis Banks

The business comprises 600 Sipps controlling around £180 million in assets. The price paid for the book was not disclosed. 

Following the transaction Hargreave Hale will continue to manage the assets, with Curtis Banks responsible for administration of the Sipps. 

The sale marks the tenth asset purchase since Curtis Banks, which is one of the UK's largest Sipp operators, was founded in 2009. This includes the acquisition of the Suffolk Life from Legal & General at the start of 2016. 

The firm's CEO, Rupert Curtis, said: 'This book of Sipps from Hargreave Hale is a good fit for our business model and the clients will benefit from the high quality, service-led proposition that we provide.

'Having carefully taken the time to integrate Suffolk Life, our largest acquisition to date, we're able to explore further opportunities to add scale and expand our offering to greater numbers of clients.' 

Will Self, who will takes over as CEO of the firm at the start of next year, added: 'Investing to add high quality assets is a core component of our future growth strategy.

'We also see great potential for improving organic growth, by better meeting the needs of advisers and their clients, and we'll soon launch a new Sipp product to market. We're targeting an increased rate of growth in 2019.' 

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