REG - Investacc Group Ltd. - Full Year Results to 31 December 2025

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RNS Number : 1976X  Investacc Group Limited  19 March 2026

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LEI:  2549008KZ7HM27V4O637

19 March 2026

InvestAcc Group Limited

Full Year Results to 31 December 2025

Excellent strategic progress with 43% revenue growth, driven by a combination
of organic growth, the successful acquisition and integration of the AJ Bell
Platinum businesses, and the delivery of key operational projects.

InvestAcc Group Limited ("InvestAcc", the "Company" or, together with its
subsidiaries, the "Group"), a leading UK specialist pension administrator, is
pleased to present the report and audited financial statements (the
"Financial Statements") for the year to 31 December 2025 ("FY25"). The
Financial Statements are available to view and download from the Company's
website: www.investaccgroup.com/investors/results
(http://www.investaccgroup.com/investors/results)

Group revenues increased by 43% to £15.0m (FY24: £10.5m((1))), primarily
driven by organic growth of 28%, reflecting sustained demand for core
administrative services, and complemented by £1.5m in revenue from the
successful acquisition and integration of AJ Bell's Platinum SIPP and SSAS
business (the "Platinum Acquisition"). The Platinum Acquisition added 3,412
schemes, contributing to a 47% increase in total active pension schemes, which
reached 18,329 as of December 2025. Trading EBITDA increased to £6.9m,
reflecting the Group's continued commitment to operational excellence. Group
EBITDA improved to £4.3m, with Group EBITDA margin progressing in line with
our long-term expectations.

This growth was supported by significant progress on key strategic
initiatives, including the completion of a comprehensive fee review, an
upgrade of the SIPP administration platform, and targeted enhancements to the
Treasury Function implemented during the year.

Mark Hodges, Executive Chairman of InvestAcc Group, commented:

"2025 has been a year of excellent strategic progress, with the Group
strengthening its market position and operational capabilities. Building on
the transformative acquisition of InvestAcc Holdings Ltd in October 2024, we
have accelerated growth through a combination of organic expansion and the
successful acquisition and integration of the Platinum Acquisition.  The
Platinum Acquisition has reinforced our standing as a leading specialist
pension administrator.

"We continue to invest in the capability and capacity across the organisation,
to support our future growth. A number of key appointments to the operational
team strengthens our ability to deliver on our strategic priorities.

"Our focus remains on delivering long‑term value through high‑quality
customer service and disciplined consolidation. Supported by favourable market
conditions, the Group is well positioned to drive sustained growth."

FY25 Financial Highlights

 £'m                                  FY24 Pro Forma((1))  FY25      % change
 Pension administration               5.4                  7.6       41.8%
 Treasury                             1.8                  3.6       106.2%
 Financial Advice                     2.4                  2.8       15.1%
 Appointed Representative             0.9                  0.9       1.9%
 Total revenue                        10.5                 15.0      42.9%
 Operating costs                      (6.2)                (8.1)     29.8%
 Trading EBITDA                       4.2                  6.9       62.2%
 Group costs                          (1.4)                (2.6)     90.3%
 Group EBITDA                         2.8                  4.3       51.7%
 KPIs
 Trading EBITDA margin                40.5%                45.9%     5.4pp
 Group EBITDA margin                  27.1%                28.7%     1.6pp
 Client retention *                   96.5%                95.6%     (0.9pp)
 Service quality **                   98.5%                94.2%     (4.3pp)
 No. of SIPPs and SSASs (period end)  12,467               18,329    47.0%

*InvestAcc SIPP for last 12 months.

** InvestAcc SIPP and SSAS for last 12 months.

 

 1   Given the change in year-end date and the mid period completion of
InvestAcc Holdings Ltd in October 2024, we produced an unaudited pro forma
trading summary for FY24 to provide clarity and year on year comparable
business performance trends

·      Revenue increased 43% to £15.0m (FY24: £10.5m((1))), primarily
driven by 28% organic growth in core pension administrative activities, which
continue to experience strong demand, as well as revenue from the Platinum
Acquisition. This was reflected in a 47% rise in the number of SIPPs and
SSASs year-on-year to 18,329 and relationships with over 340 IFAs that
generated new business

·      Trading EBITDA growth of 62.2% to £6.9m
(FY24: £4.2m((1)))

·      Strong and improving trading EBITDA and Group EBITDA margins,
progressing in line with long-term expectations of 30%+ Group EBITDA margins

·      The Group's pension scheme assets under administration grew by
81.6%, reaching a total of £9.8bn (FY24: £5.4bn)

·      Operating costs increased by £1.9m and Group costs increased by
£1.2m compared to FY24((1)), reflecting ongoing investment in capability to
support growth, along with additional costs related to the Platinum
Acquisition

·      Net debt of £12.7m as at 31 December 2025 is equivalent to 3.0x
Group EBITDA. Annualised net debt position, including full year impact of
Platinum Acquisition, in line with guidance of 1.5x to 2.5x net debt to Group
EBITDA

 

 

FY25 Corporate Activity Highlights

·      Successful completion on 3 November 2025 of the Platinum
Acquisition for up to £25.0m, adding over 3.4k accounts and £3.3bn of assets
under administration

·      The Group established a strategic partnership with Kartesia to
finance the Platinum Acquisition and support future M&A alongside equity
funding

·      Delivery of key projects:

·      Completed the first phase of developing a high-quality Treasury
Function in August 2025, followed by the second phase integrating Platinum's
treasury operations in November 2025. The final phase, scheduled for 2026,
will align solutions across the Group and increase automation, with full
financial benefits expected by the end of 2026

·      Successful upgrade to the Delta Platinum Pro platform, migrating
all SIPP customers along with over 9.5m data points, resulting in all SIPP
customers now operating on a single, unified platform

·      Completed a fee review in H1 2025, increasing base administration
fees for core SIPP products while maintaining their position as
value-for-money and highly competitive; full financial impact expected by H2
2026

·      Strengthened internal support capabilities through key
appointments, including an experienced COO to oversee Group-wide operations
and an HR Director, alongside expanded central team resources to reduce
reliance on external expertise and support ongoing acquisition and integration
activities

·      Recognised for excellence in service delivery with multiple
awards, including Five Star Service Provider at the Financial Adviser Service
Awards, Best SIPP Provider at the Money Marketing Awards for the sixth time,
and Best Pension Service Provider for the sixth consecutive year;
additionally, AKG((2)) financial strength was upgraded from Satisfactory to
Strong

·      Customer service quality levels of 94.2% evidencing a continued
focus on customer outcomes

((2)) AKG is a ratings agency for the financial services sector

Outlook

The pensions administration industry is increasingly vital in supporting
financial independence amid shifting demographics and growing family reliance.
The acquisition of InvestAcc Holdings Ltd in October 2024 has strengthened the
Company's platform, enabling the continued execution of its 'buy and build'
strategy, highlighted by the Platinum Acquisition in 2025 and scalable organic
growth. With strategic operational appointments and a robust pipeline of
acquisition opportunities, the Group is well positioned for accelerated
progress.

The strategic priorities for FY26, as set out below, remain consistent
with previous guidance:

Continue to drive organic growth across core business lines - led by SIPP
plan growth:

The SIPP and SSAS market remain attractive, supported by a fragmented
landscape and increasing challenges for smaller providers due to legacy IT
systems and regulatory pressures. Demographic and economic trends, such as an
ageing population, concentrated wealth, and expected inter-generational
transfers, are driving demand for flexible pension solutions.

InvestAcc continues to benefit from a flight to quality as customers seek
reliable service amid industry challenges. With total SIPP assets growing
significantly, the Group remains optimistic about organic growth
opportunities. This momentum will be maintained by focusing on retention and
providing excellent customer service to support sustainable growth.

Additionally, strengthening relationships with large-scale distribution
partners will be key to expanding the Group's reach and deepening market
penetration, complementing its existing organic growth efforts. Through
targeted M&A and strategic partnerships, InvestAcc is advancing its goal
to become the UK's leading specialist pensions administrator, delivering
exceptional value and service.

Further enhancements to operations:

SSAS Platform - Building on the successful upgrade of the Delta Platinum Pro
platform - which unified all SIPP customers and migrated over 9.5m data points
- the Group is now advancing the SSAS administration platform for InvestAcc
and Platinum customers. By modernising the SSAS platform, the Group aims to
provide greater flexibility, faster processing, and improved service,
reinforcing its commitment to scalable growth and leading specialist pension
administration.

Treasury Function - The Group has successfully completed the first and
second phases of developing a high-quality Treasury Function. This included
implementing a more sophisticated cash pooling and maturity management system,
establishing a dedicated Treasury and Liquidity Committee, and making several
key hires. The integration of AJ Bell's Platinum SIPP and SSAS treasury
operations was completed in November 2025, alongside the acquisition. The
final phase, scheduled for completion by the end of 2026, will focus on
aligning solutions across the Group.

Develop our people and capability:

Following recent key appointments and expanded central resources, the Group
will further strengthen internal capabilities to support growth and
integration. The Group's priorities include enhancing training and performance
management, deepening Risk and Operations expertise, and progressing
operational management succession.

Inorganic opportunities:

AJ Bell Platinum - The acquisition of AJ Bell's Platinum businesses marked a
key milestone for the Group. The integration is progressing well and in line
with expectations. Trading EBITDA margin of c.45% has been delivered since
completion, day one efficiencies of £1.5m have been achieved, commercial
property services have been reopened, and the reinvigoration of IFA
relationships is underway with new branding and literature launched. The
majority of one-off integration expenditure has been incurred. The focus for
FY26 is on delivering the remaining value creation opportunities, including
strengthening distribution relationships, and continuing to grow the Platinum
book.

M&A - The Group remains optimistic about the broader M&A pipeline,
with multiple ongoing discussions across our three target categories:
specialist providers, life companies, and platforms. The market remains highly
fragmented, with over 100 providers and growing challenges for smaller and
non-core books, creating attractive opportunities for consolidation.
Leveraging our expertise, focus, and momentum, the Group is well-positioned as
a preferred partner in this environment.

The Company remains committed to delivering accretive acquisitions at
valuations that are equivalent to 5-8x EBITDA. Key priorities include
reinvigorating IFA relationships and driving organic growth; optimising
treasury solutions; implementing target operating models (TOM) and service
quality standards; fully integrating administration platforms and technology;
and ensuring efficient capital deployment to deliver strong financial returns.

 

Enquiries:

Company Secretary: + 44 (0) 207 004 2700

Antoinette Vanderpuije

Camarco (PR Adviser): + 44 (0) 203 757 4980

Ed Gascoigne-Pees / Phoebe Pugh

KK Advisory (IR Adviser): + 44 (0) 207 039 1901

Kam Bansil

Panmure Liberum Limited (Corporate Broker): + 44 (0) 203 100 2000

Chris Clarke / Ed Thomas / Freddie Wooding

Zeus Capital Limited (Corporate Broker): + 44 (0) 203 829 5000

Harry Ansell / Katy Mitchell

 

 

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