April 1, 2020
PIB Group Ltd (‘PIB’) has grown through the acquisition of a book of business from Avidus Scott Lang & Co. Ltd, an IFA based in Cheshire. The purchase relates to commercial clients for Group Life Assurance and Group Income Protection, who will enjoy expert consultancy and advice from our experts within PIB Employee Benefits. The acquisition does not involve any employees transferring over to PIB.
The move is part of a reciprocal arrangement made at the start of this year when PIB acquired the employee benefits division of Sanlam Wealth Planning UK, which now trades under the PIB Employee Benefits brand led by David Skinner.
An exclusive arrangement in place with the wider Sanlam group included providing enhanced and joined-up support for clients so that their employee benefit enquiries will be referred to and managed by PIB. In return, PIB committed to introducing clients who have financial planning requirements to Sanlam’s wealth managers.
Brendan McManus, CEO for PIB Group, commented: “The ASL book purchase is a first significant example of PIB’s relationship bearing fruition with Sanlam, as ASL were in fact acquired by them last year. From 1 April, PIB Employee Benefits will now manage the administration and consultancy services of the ASL employee benefits business. ASL and PIB EB will continue to work very closely together to provide a seamless service to our mutual clients.”
Richard Haynes, who moved over to PIB as part of the Sanlam transaction, will take over responsibility for the delivery of the employee benefit services provided to ASL clients.
For more information
To find out more about our employee benefits offering, visit the PIB Employee Benefits website or follow the team on LinkedIn.