Wilton continues to expand with the purchase of Guinness Mahon Trust Corporation SIPP book
London, United Kingdom – Wilton, the Mayfair adviser, is pleased to announce our continued growth plans are further supported by the acquisition of the pension book of Guinness Mahon Trust Corporation.
On 18 February 2020 Wilton through its Bristol-based SIPP and SSAS provider Hartley Pensions completed the purchase of another collapsed Sipp administrator with its acquisition of Guinness Mahon Trust Corporation for an undisclosed sum. Wilton has been an active buyer of books from Sipp administrators such as Guardian, Greyfriars and Berkeley Burke.
The sale means that Guinness Mahon’s 4,000 SIPP book with a total investment value of around £300m will be transferred to Hartley along with certain assets, but does not include the legal entity Guinness Mahon Trust Corporation Limited which remains in administration.
Wilton’s founder and Managing Partner, Tony Flanagan commented, “Wilton continues to expand its pensions profile with our recent acquisitions and we remain committed to ensuring that these pension investments are administered cleanly and safely. Our clients will have the best possible outcome for their pension investment and Wilton also offers them a wider range of services.”
Denis McHugh, CEO of Hartley Pensions had this to say: “Yet again we are stepping in and buying a SIPP book to provide continuity of service to clients, who faced uncertainty concerning their pensions when their service provider entered administration. We have always been fully focused on our clients and the services we offer. Each client is assigned their own highly qualified pension administrator who will be able to offer assistance and answer any queries during the transfer. With all the books we have bought recently, we have worked very closely with the FSCS, to ensure that all customers have access to compensation and good outcomes and that the FSCS has all customer records available to them if a claim should arise.”
The transfer and the changes will not have any impact on the investments, administration, reference numbers, contact details or fees for former clients of Guinness Mahon Trust Corporation. The assets held within each Guinness Mahon Sipp will transfer to a Hartley Sipp (unless clients contact Hartley to say they wish to take up another option with another provider).
The companies do not anticipate that there will be any interruption to the services previously provided by Guinness Mahon.
The GMTC business and it’s administration staff have been transferred to Hartley and so if you have any questions about your SIPP please use your usual contact details for GMTC.
Notes to the Editor:
Hartley is a pension provider authorised and regulated by the FCA. More information about Hartley can be found on its website.
In 1981, Hartley established itself as a SSAS provider and in 2001 opened its first SIPP. Hartley now offer ISAs, QNUPS, QROPS and Life Assurance in addition to SIPPS and SSAS. Hartley also act as third party pension administrators for one of the UK’s leading investment and trading platforms.
Hartley pride themselves on establishing and maintaining long-lasting relationships with business partners and clients by providing them with professional, friendly and personalised administration. Hartley products are designed to be flexible, straight-forward and relevant to clients’ needs.
Upon joining the Wilton in 2015, Hartley expanded their range of products and services available to clients. Wilton offers Professional, Investments and Pension services.