On the go: Fintech savings provider Smarterly has acquired Salvus Master Trust for an undisclosed sum, the first deal to occur in the sector after the introduction of the authorisation regime.
Smarterly, which aims to develop a ‘next generation’ pensions proposition, has so far been working with Isas, which “are increasingly seen as an attractive adjunct to pensions, as millennials prioritise savings for their first home”, and for higher earners “impacted by the reduced annual and lifetime pension allowances”, the company stated.
The savings of existing members of the Salvus Master Trust will “continue to be safe and secure” and members will benefit from the advancements in technology, it added.
Steve Goddard, founder of Salvus, argued that the deal will take the master trust “to the next level”.
“I look forward to working with Smarterly and developing the technology so that Salvus employers and members alike can benefit from the fintech revolution.”
Ben Pollard, founder and chief executive of Smarterly, noted that clients have been asking for “more innovation with workplace savings and to make pensions more engaging”.
“We now intend to use our tech to help employee benefit consultants and their clients better engage with employees and to make pensions more engaging.”
