The Independent Governance Group (IGG) has announced the acquisition of IC Select, which specialises in helping trustee boards select and monitor investment consultants and fiduciary managers.

The deal is expected to expand the range of services IGG provides to clients to include the selection and oversight of investment consultants and fiduciary management providers, and was highlighted by IGG as an opportunity to add complementary skills to broaden its offering.

However, IGG confirmed that the IC Select brand will be retained, gaining additional resources and a broader framework to support its ongoing growth.

IC Select managing director, Peter Dorward, will continue to lead the brand, with founder Roger Brown also remaining with the business under IGG’s ownership.

Commenting on the news, Dorward said: “We look forward to combining our talents and service offering with our new colleagues at IGG to add value and deliver good outcomes for clients and scheme members.

“Joining the IGG family gives us a unique platform to accelerate our growth strategy as part of a business with a clear vision, a first-class team and strong momentum behind it. We’re excited to find a partner that shares our values and commitment to trustee services that are best-in-breed.”

Adding to this, Brown said: “When I founded IC Select, it was with the sole purpose of helping trustees to achieve the best investment and fiduciary management for their scheme members to improve saver outcomes.

“That task has grown more important with every passing year, and I am delighted that IGG has recognised the strength of the proposition we have built. I am confident that IC Select will continue to thrive with the weight of IGG’s support behind it.”

IGG CEO, Andrew Bradshaw, also said that he was "delighted" to welcome IC Select to the IGG portfolio, arguing that a key part of any professional trustee’s role is the ability to effectively monitor their schemes’ investment performance.

“IC Select will enhance our ability to select and monitor investment consultants and fiduciary managers," he said.

The deal follows a number of recent acquisitions by IGG, including the acequisition of Clarity Trustees in February 2023, and Like Minds in May 2023.

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