UK investment management solution provider, DST International (DSTi) has acquired Pensions and Actuarial Services, Ltd. (PAS), which provides pensions planning and calculations software in the UK. The PAS development team that joins DSTi includes actuaries and financial planning experts and will be based at DSTi’s head office in Surbiton.
PAS’s systems are used by more than half of all the Independent Financial Advisors as well as most of the major insurers, banks and building societies in the UK.
“The take over provides PAS with the additional resources to develop further its industry leading financial planning solutions,” said Jim Bruce, PAS managing director. “Integrating the PAS planning tools with the DSTi Wrap platform will provide clients with the most complete solution in the market.”
The deal will create a combined software in which PAS pension calculations, with its simplification planner, will be included in DSTi’s new SIPP administration solutions, which can stand alone or part of the Wrap platform.
PAS will continue to provide its calculation and planning systems on a stand-alone basis to its main clients, which include insurance companies, banks and financial advisers.