Platform One, the investment platform for wealth managers, has announced it will acquire Gaudi Trustees and the operation of more than £1bn of Sipp assets administered by Gaudi Limited.
Following the deal, Platform One assets under administration (AUA) will rise to £2.7bn.
The acquisition will bring Sipp “technical and administrative expertise” to Platform One, which it will use to launch its own on-platform Sipp.
The investment platform has received permission to run a Sipp and stated that this will bring “a more holistic offering to its IFA users and clients”.
Gaudi clients will also receive access to Platform One’s products. Gaudi Limited will rebrand to Platform One in due course but will remain as it is for the time being.
Platform One chief executive Alex Cowan-Sanluis said: “This is a fantastic acquisition for us at Platform One.
“Gaudi has a highly complementary proposition to ours, and its experienced team bring a deep range of technical knowledge and administrative expertise to our growing business.
“We’re excited to welcome Gaudi’s customers to Platform One and look forward to offering them access to a greater range of services.
“Plus with the upcoming launch of our new Sipp, we’ll deliver a more rounded proposition for our IFA customers and their clients.”
Gaudi Limited chairman Clifton Melvin said it is “exciting” for Gaudi to join a company with big ambitions in the worlds of platforms and fintech.
He said: “Our Sipp proposition has always been rooted in market-leading technology, so it only seems natural to be joining a business that’s innovating and growing.”
Gaudi head of implementation Adam Burwell added: “This is a fantastic result for Gaudi and we’re looking forward to joining Platform One.
“We’re excited to plug our Sipp into Platform One technology and become part of a more holistic, technology-based offering.
“The shape of this acquisition also means we can continue to offer our existing clients a wider service without interruption.”
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