Rowanmoor Personal Pensions Limited

We last wrote about the administration of Rowanmoor Personal Pensions Limited (RPPL), a Self-Invested Personal Pension (SIPP) operator authorised and regulated by the FCA on 10 November, when we described the reasons for RPPL’s administration and the appointment of Adam Stephens and Chris Allen of Evelyn Partners as joint administrators on 31 August.

Since their appointment, the joint administrators have continued to trade the RPPL’s SIPP and Family Pension Trust (FPT) administration services business whilst a purchaser for RPPL’s business and assets was sought. The company had engaged Evelyn Partners to commence a discreet sale process in May 2022, and the joint administrators continued to progress the sale process after their appointment.

Now, the joint administrators have announced that they have exchanged contracts with Alltrust Services Limited (Alltrust) for a sale of the company’s SIPP and FPT business. The deal is expected to complete in February 2023. RPPL’s SIPP and FPT staff will transfer to Alltrust when the sale completes, ensuring that clients experience minimum disruption in the transfer process.

The joint administrators have been assisted by legal advisers from CMS Cameron McKenna Nabarro Olswang, led by restructuring and insolvency partner Julian Turner, corporate partner Rizwan Rahman and pensions partner Alistair Hill.

The press release announcing the sale can be found HERE, and the joint administrators’ latest progress report can be found HERE.