T&M says the deal will add 380 SIPPs and 360 SSASs to its existing book and will boost assets under administration to over £3.5bn.
The SIPP book will be run from the Talbot and Muir office in Nottingham and the SSASs book will continue to be administered in Leeds. Talbot and Muir will take over the Leeds office and permanent staff will be retained.
Graham Muir, director of Talbot and Muir, said: “The acquisition of The Pensions Partnership from Group IFA is another important part of our growth strategy.
“We have been looking to expand our footprint in the north of England and this business provides an excellent opportunity for us to do this. We do not undertake acquisitions lightly and it is important to identify those businesses that are well run and have high quality staff. The Pensions Partnership satisfies all of that criteria and we look forward to having the staff and their clients join us.”
Phil Rose, Group IFA chief executive, said: “When we made the strategic decision to sell our SIPP and SSAS business, we looked across the market and narrowed it down to a handful of firms.
“The most important thing for us was finding a firm with the right client centric cultural fit. We felt that Talbot and Muir stood head and shoulders above the other firms and was the only company in a position to provide personalised administration service to our clients who we will continue to advise.”