Since launching in March 2020 with investment from Exponent, Isio has gone from strength to strength, achieving significant organic growth, and recruiting 130 new financial professionals and building a high-quality corporate function team.
Premier’s pensions administration business is highly respected, benefitting from many years of investment in technology and automation to become a market leader.
The acquisition of Premier will enhance Isio’s existing services of pensions administration, actuarial consulting and investment advisory whilst also expanding its services to include employee benefits and wealth management.
The enlarged Isio Group will comprise of 800 staff across nine locations in the UK (Birmingham, Bristol, Central London, Croydon, Edinburgh, Glasgow, Leeds, Manchester and Reading), with estimated annual revenues of around £100 million.
Andrew Coles, Chief Executive of Isio Group Limited, commented: “Our independence has given us the ability to spread our wings, not only to grow organically but with the support of our investors, to invest in our core business and to identify and take the opportunity to acquire a complementary business that will accelerate our growth trajectory.
“The UK’s pensions industry is undergoing a significant revolution. Innovative thinking and new ways of managing employer pension responsibilities, employee benefits and individuals’ wealth are required for the future of the UK’s financial services industry.
“Acquiring Premier gives us the versatility to do this, by offering new and existing clients the full spectrum of employee benefits advice, actuarial consulting services, as well as wealth management, financial advisory and pension administration services.”
Alastair Aird, Chief Executive of Premier, added: “Isio’s ambition, its focus on people and culture, combined with its expertise and commitment to clients is very much aligned to our own business and the original proposition on which Dai Smith founded and has grown Premier. Together we see great opportunities to build a much stronger organisation.
“We look forward to working with the team at Isio to bring the two companies together and create a unique position in the market as an agile, fast paced and complete pension, employee benefit and wealth adviser able to service the whole of the market.”
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