Investment management software vendor DSTi has acquired UK pensions planning and calculations firm Pensions and Acturial Services (PAS), as part of its strategy to develop comprehensive Wrap admin services for financial advisors.
PAS’s systems are used by more than half of the UK's independent financial advisors as well as a large number of major insurers, banks and building societies. The software will be added to DSTi's advisor oriented front end to provide quotations, calculations and illustrations for both DSTi’s and other pension administration systems.
DSTi product director, Tim Rudlin says: "PAS pension calculations including its Simplification Planner is being included in DSTi’s new Sipp administration solutions. The Sipp system can be stand alone or part of the Wrap platform."
The Simplification Planner was initially developed for Winterthur Life for the purpose of advising clients on the effects of Pension Simplification.
PAS will continue to exist as ‘DSTi PAS’, and operate as a standalone entity, in addition to becoming a key component to DSTi’s Wrap solution. The PAS development team that joins DSTi includes actuaries and financial planning experts and will be based at DSTi’s head office in Surbiton.
Financial details of the transaction were not disclosed.