SIPP provider Curtis Banks has received the go ahead from the FCA to complete its acquisition of rival Talbot and Muir.

Curtis Banks says it plans to continue to grow its business organically and through acquisitions.

It expects further consolidation of the SIPP sector which has been beset with regulatory problems and some firms being hit by legal action or financial collapse.

Curtis Banks chief executive Will Self said: “I have a clear vision for the Curtis Banks Group and for the self invested personal pension sector. I want to continue to grow the business organically and through acquisitions and we have been very successful in acquiring the right businesses and onboarding these quickly and efficiently. 

“There are a large number of smaller SIPP firms, often owner-managed, that will look to find the right parent as they look to retire or just find the cost of doing business too high. A SIPP administrator cannot be content to stay static, you need to have a vision and continue to invest in the business, be that through technology, people and processes.

“The acquisition of Talbot and Muir is a further step toward our vision for the business and we welcome them to the Curtis Banks Group. This follows closely on the completion of Dunstan Thomas, the technology provider, once again positioning us as a forward looking and innovative business.”

The takeover of Talbot and Muir adds 6,600 plans and Assets under Administration of approximately £3.6bn to the Curtis Banks Group. Talbot is now a wholly owned subsidiary of the Curtis Banks Group.

Curtis Banks acquired fintech firm Dunstan Thomas in August.

Graham Muir, director at Talbot and Muir, said: “Having made the decision to look to sell the business, we wanted to identify a firm that shared our high values and is committed to the sector for the long term.  Having had a number of options presented to us, Curtis Banks was the natural choice.  They continue to invest in the group, have a clear strategy and strong leadership.  We look forward to working with our new colleagues.”