WBR Group has bought the small self-administered scheme (SSAS) book of business from Carpenter Rees for an undisclosed sum.

Following the acquisition, the Carpenter Rees SSAS client base will move to WBR Group’s dedicated account manager model, ensuring continuity of service.

Carpenter Rees director, Steve Rees, commented: “We have built a strong reputation for high standards of service and technical expertise, supporting both individuals and business owners.

“The SSAS trustee business has been very important to us, but with upcoming changes to pension and tax rules and the increasing complexities of administering SSAS arrangements, we felt that now was the right time to move the administration to a larger organisation.

"The sale of the SSAS book ensures our SSAS clients continue to receive specialist support from a market-leading provider.”

He added: “We are confident that WBR Group is the perfect fit, both culturally and operationally. We look forward to working closely with WBR Group and continuing to collaborate hand in hand to deliver the best possible outcomes for our SSAS clients.”

WBR Group, which was founded in 2016, said the deal formed part of its long-term growth strategy, with previous acquisitions including the SSAS books of James Hay and Rowanmoor.

WBR Group CEO, Tom Moore, said: "Our ambition has been to create a true centre of excellence for SSAS, combining scale with deep technical expertise and a personal service model that clients and their advisers truly value.”

He said the group’s experience of working with business owners had shaped its practical approach to providing joined-up support.

That experience was a key factor in the decision to acquire the Carpenter Rees SSAS book, whose trustee business was “highly respected” and “aligned strongly” with WBR Group’s values and culture.

He added that the acquisition strengthens the group’s SSAS offering and supports its focus on long-term continuity, technical expertise and consistent service for members and advisers.

"We are delighted to welcome Carpenter Rees SSAS clients to the WBR Group and look forward to working with them while continuing our partnership with Carpenter Rees, who will remain dedicated to delivering holistic financial advice for these clients," Moore concluded.

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