The Westerby Group has acquired specialist pension provider and independent financial adviser (IFA) firm Redswan for an undisclosed amount.

Its purchase of the Manchester-based company’s IFA business and two trustee companies for self-invested personal pensions (SIPP) and small self-administered schemes (SSAS) bring the businesses into the Westerby Group.

Westerby recently became an employee ownership trust, after its chair and founder, Les McLintic, transferred all his ordinary voting shares in the company to the trust.

Redswan’s staff will be retained by Westerby, establishing a presence in Manchester.

Westerby said the acquisition was part of its growth strategy of purchasing businesses in the IFA and specialist SIPP and SSAS pension sectors.

The Westerby Group consists of three companies: Westerby Investment Management, Westerby Trustee Services, and Westerby Pension Administration.

This latest acquisition brings the group’s total assets under trusteeship, administration, and advice to more than £1.6bn across 5,000 clients.

“We are delighted to announce the purchase of Redswan Ltd,” said Westerby chair, Les McLintic.

“We would like to extend a warm welcome to all Redswan clients and professional connections as the brand integrates into Westerby.”

Redswan managing director, Mark Andrews, commented: "We are confident that integrating Redswan’s portfolio into the Westerby brand will provide our valued clients with continuity of the trusted service they rely on, with the added benefit of retaining their relationships with the Redswan team in Manchester.”

This article originally appeared on our sister title, Wealth Investment News.

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