Independent Governance Group (IGG) has announced the acquisition of Edinburgh-based oversight and selection specialist IC Select.
The deal is expected to expand the range of services IGG provides to clients to include the selection and oversight of investment consultants and fiduciary management providers, and represents a further opportunity for IGG to add complementary skills to broaden its service offer to clients, it announced.
As part of the deal, IC Select will also gain resources and a broader framework to support its ongoing growth.
IGG confirmed the IC Select brand will be retained, reflecting its specialist offer and established reputation. IC Select managing director Peter Dorward will continue to lead IC Select and founder Roger Brown will also remain with the business under IGG’s ownership.
IGG also confirmed that “given the complementary service offerings, no people changes are anticipated as a result of this acquisition”.
The move rounds off the first year of growth and expansion for IGG, which acquired Clarity Trustees in February 2023 and Like Minds, the creative communications and employee engagement agency, in May 2023.
The group said it will continue to evaluate complementary acquisition opportunities to accelerate its successful organic growth strategy into 2024.
Andrew Bradshaw, chief executive officer of IGG, welcomed the IC Select to IGG portfolio. “A key part of any professional trustee’s role is the ability to effectively monitor their schemes’ investment performance. IC Select will enhance our ability to select and monitor investment consultants and fiduciary managers,” he said.
Peter Dorward, managing director of IC Select, added that the IC Select team has a “hard-won reputation” for specialist expertise.
“We look forward to combining our talents and service offering with our new colleagues at IGG to add value and deliver good outcomes for clients and scheme members,” he noted, adding that joining the IGG family gives IC Select a unique platform to accelerate its growth strategy.
“We’re excited to find a partner that shares our values and commitment to trustee services that are best-in-breed,” he said.
Roger Brown, founder of IC Select, said that IC Select was founded with the “sole purpose” of helping trustees achieve the best investment and fiduciary management for their scheme members to improve saver outcomes.
“That task has grown more important with every passing year, and I am delighted that IGG has recognised the strength of the proposition we have built,” he said, adding: “I am confident that IC Select will continue to thrive with the weight of IGG’s support behind it.”