Praemium acquires UK pension provider

Praemium is accessing new funds under administration (FUM) opportunities in the UK following its acquisition of Cumbria-based pension provider, Wensley Mackay Limited.

The acquisition would see Praemium enter the UK private pension space and gain entry to the growing self-invested personal pension (SIPP) market.

Conditions of the agreement have been finalised, with Praemium receiving approval from the Financial Conduct Authority (FCA).

Consideration for the transaction is £600,000 in cash.

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