The Wealth at Work group, a provider of workplace financial wellbeing programmes and retirement services with an office in Bristol, has secured further investment to maintain its strong growth.
The group, which has its headquarters in Liverpool, works with more than 450 private and public sector employers including Marks & Spencer, BT and Experian and the NHS and local authorities.
It was established in 2005 and has grown rapidly, particularly since the introduction of pension freedoms in 2015 – the same year changed ownership under a management buyout backed by Equistone Partners Europe.
It has met significant demand for its services such as financial education, guidance and regulated financial advice, which are now offered to more than 1m employees across various organisations. It now employs nearly 250 people across its two sites.
The new investment has come from Aquiline Capital Partners, a private equity house based in New York and London with $6.1bin (£4.3bn) in assets under management. The size and other details of the investment have not been disclosed, although it is understood that Equistone will retain a minority stake in the company alongside Aquiline and management.
Wealth at Work group chief executive Officer David Cassidy, pictured, said: “This new significant investment will allow us to continue to grow and meet the rapidly increasing demand for our services which are used by a number of the largest companies and organisations in the UK.
“It will also support the delivery of our growth plans and ensure our services continuously develop as we invest in technology, bringing good job opportunities for many in the region.”
The Wealth at Work group of companies help employees make informed decisions to improve their financial wellbeing throughout their career and to maximise income at retirement.
Its technology-driven services are also available for trustees to help their members fully understand their retirement income options and how to mitigate associated risks.
