Origen Investment Services is to sell its pensions administration businesses.
Its specialist self-administered pensions service business is to be sold to consultancy Barnett Waddingham, while its self-invested personal pension (Sipp) business is to be transferred to Sipp provider and administrator Suffolk Life.
Origen Investment Services made the decision to exit from the businesses due to the complex needs of its employer clients, as well as a desire to focus on providing advice and consulting services.
Mike Kirsch, chief executive officer at Origen, said: “The sale of these two businesses to real specialists is in the interest of our [employer] clients.
“It also enables Origen to concentrate on developing our core advisory business and delivering high-quality advice to our [employer] clients.”