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2 March 2020

Exponent announces acquisition of KPMG’s former UK Pensions Advisory Practice and its launch as Isio, an independent advisory firm

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Exponent is pleased to announce an investment in Isio, formerly KPMG’s UK Pensions Advisory Practice, and its launch as a new independent UK pensions advisory firm.

Isio is a leading UK pensions advisory firm which combines actuarial expertise, third party administration, investment consulting and defined contribution specialisms to deliver better outcomes for pension scheme sponsors, trustees and members. Isio advises more than 1,000 clients, ranging from mid-sized companies to FTSE 100s, on the management of pension assets worth over £90bn.

Regulatory change and market conditions in the UK are leading to increased demand for high-quality, outcome focused independent professional counsel. Isio satisfies this demand through clear bespoke pensions advice and opinion delivered via dedicated expert teams, who are empowered by proprietary technology and research.

Isio’s senior leadership is comprised of twenty partners who formerly led the pensions practice at KPMG. Moving with them are 500 staff located across eight regional hubs, with Andrew Coles appointed CEO. Roger Siddle, an experienced private equity portfolio chairman with a background in professional services leadership, has been appointed Chairman of the new company.

Andrew Coles, Chief Executive Officer of Isio, commented: “As an independent practice we can predict and respond to client opportunities and challenges with greater agility. Backed by proprietary technology, our team brings deep technical expertise, and an entrepreneurial culture.

“The industry is at a turning point and our belief is that pensions advice needs to adapt to the new world, with technology playing a key part in improving the member experience, the quality of data and the modelling of pension outcomes. With Exponent’s partnership, we will take Isio to the next level of growth and success.”

Tim Easingwood, Partner at Exponent, added: We are excited by the opportunity presented by Isio as it launches as a best-in-class independent pensions and investment consultancy. We look forward to working with this highly experienced and respected team, who have a reputation for delivering differentiated, outcome-focused advice, in continuing to grow and develop Isio over the coming years.”

Bill Michael, Chairman of KPMG, said: “We have been proud to have had such a strong pensions business here in the UK, but we recognise that Exponent are now the right partners to support Isio’s long-term growth strategy. The transaction will allow us to continue our programme of investment in the core audit, tax, deals and consulting services offered to our clients.”