STM Group, parent company of SIPP provider Options, has completed its acquisition of the SIPP and SSAS portfolio of US asset manager and pension consultancy Mercer.

STM Group, the international SIPP and financial services provider, has seen a £400,000 hit to revenue this year as SIPP business slowed, the firm reported in a trading update today.

STM Group, owner of the Options pensions business (formerly known as Carey), has sold its Jersey Corporate & Trustee Services (CTS) businesses for £1.4m.

STM Group, the financial services and SIPP provider, has added £5m to its takeover war chest to fund further acquisitions.