Punter Southall Aspire has acquired accountancy and business advisory firm BDO’s employee benefits business.
The acquisition of BDO - which merged with Moore Stephens earlier this year - completed on 30 September, and adds 320 corporate clients and a team of employee benefits specialists from the firm.
Punter Southall said the acquisition will enable the team to offer clients a range of employee benefits services.
This includes the Punter Southall master trust - Aspire Savings Trust - which last week received authorisation from The Pensions Regulator, allowing it to continue to operate in the market.
Other services include pensions and auto-enrolment consulting, governance, health and protection, employee engagement, health and wellbeing, total reward and flexible employee benefits, and voluntary benefits.
Punter Southall Aspire chief executive Steve Butler said: "We are delighted to announce the acquisition of the employee benefits division of BDO.
"BDO is a highly respected advisory firm, known for its quality consultants and broad range of employee benefits services. There are also synergies between our companies; we share the same values and they are a great fit for us."
He added: "This deal is another important milestone in our growth and development. Over the last few years, we have focused on building a leading workplace pensions, financial planning and employee benefits business, purchasing several companies starting with Ashcourt Rowan Corporate Services in 2015 through to BDO today."
Stuart Stroud, who was BDO head of employee benefits, will become a principal in Punter Southall Aspire's London office.
He said: "We are looking forward to becoming part of Punter Southall Aspire. The company is dynamic, forward thinking and fast growing.
"We also share the same ambitions - to improve the quality and accessibility of employee benefits to help employers attract, retain and engage their employees."
The technology to improve employees’ wellbeing is already here. But it is now in employers’ hands to make sure it is used to create successful corporate wellness programmes
More than half of BlackRock’s flagship UK defined contribution (DC) default fund’s assets will be invested in ESG strategies by June 2021.
Graeme Bold says the right communications can improve both the level of savings and the outcomes for savers.
More than half of UK savers agree they are unable to save sufficiently to achieve the retirement they want, according to research by BlackRock.