My Pension Expert finalizes the acquisition of Tenet&You

My Pension Expert today announced the acquisition of Tenet&You.

My Pension Expert, backed by Palatine Private Equity, is the UK’s leading pensions advisor. The Doncaster-based company provides independent financial advice to consumers across the country via telephone and video conferencing.

Tenet&You is a financial advisor who provides advice tailored to individual needs so that clients’ finances are at the best possible level, tailored to their individual situation and aspirations. The brand previously acted as an appointed representative of the Tenet Group.

The acquisition will combine the strengths and expertise of My Pension Expert and Tenet&You, further improving access to independent financial advice and ensuring the best possible outcomes for consumers.

Tenet&You has assets under management of £490 million, meaning the combined entity of Tenet&You and My Pension Expert has around £1 billion of assets under control.

As part of this process, Tenet&You will become an appointed My Pension Expert representative. In due course all customers will be migrated to My Pension Expert systems as they will become part of the My Pension Expert group. Both parties are focused on making the transition seamless for customers.

My Pension Expert was advised on the transaction by Park Place (M&A), Addleshaw Goddard (lawyer), Cortus (FDD) and Thistle (Reg DD).

Andrew Megson, CEO of My Pension Expert, said: “We are delighted to have completed the acquisition of Tenet&You; a company that shares our ambition to enable all UK consumers to achieve their financial goals and build our organic growth model. This exciting move will enable My Pension Expert to deliver high-quality, independent financial advice to more people across the country.

“Throughout the entire process, we focused on ensuring the best possible results for existing Tenet&You customers. A lot of work has gone into making the move go smoothly and My Pension Expert is perfectly placed to provide our new customers with exceptional service and care.

“This is our first acquisition and we look forward to continuing to grow and strengthen our offering in the coming years. We are an ambitious company and the whole team is excited to continue developing My Pension Expert in the coming years.”

Stephen Vickers, CEO of Tenet Group, added: “My Pension Expert has a strong reputation and we are delighted to have secured a home that not only suits our culture but also promotes the benefits of independent financial advice. We wish our colleagues every success on the next stage of their journey under exciting new ownership.”

Kieran Lawton, senior investment director at Palatine added: “The acquisition of T&Y provides a fantastic opportunity for My Pension Expert to extend its high-quality service to a significant number of new customers. We are delighted to support Andrew and the team on this transaction and look forward to continuing to work with them in implementing the company’s strategic growth plans, both through organic growth and further mergers and acquisitions.”