- OAC’s team of 29 insurance actuarial and pensions redress professionals diversify Broadstone’s expert consulting and actuarial services
- Clients and staff will have access to a broader range of services from a larger business
- For OAC’s clients, this will be a seamless transition and they will be looked after by the same team after the Broadstone acquisition
Broadstone, a leading independent pensions, employee benefits, and investments consultancy, announces that it has agreed to acquire OAC PLC, a UK based actuarial and financial services consultancy.
The acquisition will see OAC’s expert team further diversify Broadstone’s offering.
OAC’s focus on serving life and non-life insurers and redress clients, alongside its data analytics and financial modelling capability will complement Broadstone’s existing consulting and actuarial expertise.
OAC was founded in 1994 and has clients across a range of financial organisations within the UK, as well as in other countries around the world. OAC is known for its commitment to building genuine relationships with its clients, based on trust and personal, bespoke support.
There will be a seamless transition for OAC clients, who will continue to be served by the same team once it is part of Broadstone and they will benefit from access to the wider set of services the expanded group has to offer. OAC will maintain its well-established brand and culture after the acquisition.
Broadstone’s Consulting & Actuarial division is a trusted adviser to over 400 Trustee Boards and scheme sponsors. Broadstone was voted the UK’s best Third-Party Administrator in 2022 by its clients with scheme membership ranging from as little as five to as many as 15,000.
Tony Gusmao, CEO at Broadstone, commented: “I am delighted to welcome the OAC team and its clients to Broadstone and am looking forward to working with them to further strengthen our leading Consulting & Actuarial offering.
“Broadstone is focused on offering excellent service to our clients and, when opportunities arise, investing in businesses with complementary services that we can help to grow. OAC’s relentless focus on high-value consulting and actuarial services make it an ideal addition to Broadstone.”
Darren Richards, CEO of OAC, said: “Combining our 30-year track record of providing high-quality service to the insurance sector with Broadstone’s pensions and benefits expertise is an exciting step for OAC. The transaction means we can continue to offer our clients the same level of dedication and sector specialism that made OAC successful while expanding the range of services we offer and building a platform for the future growth of the business.”
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About Broadstone
Broadstone is a leading UK consultancy that specialises in advising employers and pension trustees to secure the prosperity of their employees and scheme members.
Across the Group, Broadstone delivers a range of independent services from pensions administration, consulting, investments and employee benefits solutions to small businesses, large corporates and pension scheme trustees.
Broadstone empowers its clients and colleagues to navigate complexity and change confidently with clarity, leadership and purpose and delivers this on a platform of exceptional service and robust stability.
The team is made up of over 500 expert consultants and administrators across eight offices through the UK.
