Punter Southall Aspire have acquired the employee benefits arm of BDO (formerly Moore Stephens LLP), a leading UK accountancy and business advisory firm.The deal will strengthen Punter Southall Aspire’s employee benefits business, adding 320 new corporate clients and a team of employee benefits specialists from BDO who will join Punter Southall Aspire’s team based at its City of London office and report into Alan Morahan, Managing Director, EB Consulting.
Stuart Stroud, formerly Head of Employee Benefits at BDO, will become a Principal in the London office of Punter Southall Aspire and will drive business development whilst continuing to focus on Employee Benefit consulting.
The acquisition will enable the team to offer clients a fully comprehensive range of employee benefits services. This includes Punter Southall Aspire's newly authorised master trust - The Aspire Savings Trust – which offers employers a simple, flexible, innovative and cost-effective way to manage defined contribution savings, based on the highest standards of governance, the Group's best ideas investment solutions and market-leading member engagement.
Other services include pensions and auto-enrolment consultancy, pensions governance services, health and risk services, employee engagement, health and wellbeing, total reward and flexible employee benefits, as well as voluntary benefits.
Steve Butler, CEO, Punter Southall Aspire says, “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.”
“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.”
“Employee benefits are now a hugely important strategic tool for employers. Most employees have access to a pension today through auto-enrolment, so it’s become key for companies to offer the right employee benefits package to attract, retain and engage the best people. We are pleased that we can now provide a complete proposition for companies, from pensions consultancy through to employee benefits, well-being and engagement.”
Stuart Stroud 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.”