DTRB provides actuarial, pensions administration and investment services to some of the biggest organisations and pension plans across the UK. The acquisition and addition of DTRB’s 200-strong workforce to Isio’s existing team will create one of the largest pensions advisory businesses in the UK once completed.
Since Isio launched in March 2020, backed by Exponent, the business has shown strong organic growth through new client wins and the development of additional services. The acquisition of Premier Pensions Management in January 2022 strengthened Isio’s core pensions business while enabling it to launch new propositions including employee benefits advice and wealth management.
The enlarged Isio Group will have annual revenues of around £140 million and 1000 employees across its nine existing locations around the UK together with a new location in Belfast.
Andrew Coles, Chief Executive of Isio Group Limited, commented: “Since our independence in 2020, we have been ambitious in our growth plans and are proud of how quickly we have established ourselves in the market, developing our people and our services at pace.
“This acquisition builds on the momentum we have as we build scale and challenge the status quo by developing the best pensions, benefits and wealth advisory offering in the market. Deloitte UK’s pensions business has achieved great success to date and bringing the two businesses together will create exciting opportunities for our people, our clients and their pension scheme members. I look forward to welcoming the DTRB team into an environment which provides so much opportunity for career development and progression.”
Mark McClintock, head of Deloitte’s UK pensions business, said: “Bringing together the pedigree and heritage of Deloitte’s UK pensions business and Isio is a hugely exciting proposition for our people and the marketplace. The combined business will have the skills, propositions and services to be the advisor of choice to many UK pension schemes and their sponsors. We are looking forward to joining Isio and all the opportunities it will provide for the team.”
Lisa Stott, Managing Partner Tax & Legal at Deloitte UK: “DTRB is one of the most well-respected pensions advisory businesses in the UK and our priority has always been to enable the team to diversify their business and expand into new areas.
“We are pleased that the deal will support the continued success of the DTRB business in the long term, providing the maximum opportunity for its growth and the development of its people. We wish the team every success.”
The acquisition is expected to complete in Spring 2023, the terms of which will not be disclosed.
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