The Pensions Regulator (TPR) has approved the Carey Workplace Pension Trust as an approved Master Trust for the continuing acceptance of auto-enrolment contributions from the UK market.

STM Group raked in £2.7m in profits from its acquisition of Carey Pensions earlier this year in what it classed as a bargain purchase.

STM Group has revealed it will target UK-based SIPP operators and workplace maters trusts as its latest results showed profits remained stable at £4m.

STM Group, the cross-border financial services provider and creator of the International SIPP, has completed its takeover of troubled SIPP provider Carey Pensions.