Workplace pensions innovator, Smart, and the leading administrator in the Australian superannuation industry, Link Group, have today announced a strategic global partnership to take their combined expertise into new markets both in the UK and globally.
The partnership will see Link Group take an equity investment in the UK fintech firm as part of a strategic placement round.
The strategic investment gives Link Group a strong and credible entry point into the growing UK retirement market and will significantly strengthen Smart’s global expansion path, which has already seen it sign deals to deliver its savings platform technology in Ireland and Dubai.
Andrew Evans, Smart Pension co-founder and CEO, said:
“This strategic partnership with a world-class player like Link Group significantly strengthens our global expansion plans while giving Link Group access to the UK retirement market and our leading financial products including our innovative at-retirement solution ‘Smart Retire’.
“Link Group has been at the forefront of administration in a very successful Australian superannuation market and it continues to invest in state of the art systems. This is a very positive partnership which facilitates both companies entering new markets.”
Link Group Managing Director, John McMurtrie, said:
“We are impressed by the Smart Pension team and confident in their people and technology capabilities, as well as their extensive understanding of the defined contribution pensions market in the UK.
“This partnership will leverage Link Group’s core capabilities and is an example of our strategy to identify attractive adjacent market opportunities aligned with our service strengths, with a pathway to future growth.”
Link Group joins Europe’s second largest asset manager, Legal & General, and the US asset manager, J.P. Morgan, as an equity investor in Smart.
As part of the agreement, Link Group will take on the administration for the Smart Pension Master Trust which continues to grow quickly following major consolidation deals such as the Lighthouse Group and Corpad, with more significant mergers in the pipeline.
John McMurtrie will take a non-executive seat at the Smart Pension board.
For Link Group media inquiries contact l[email protected]
Link Group connects millions of people with their assets, including equities, pension and superannuation, investments, property and other financial assets. Link Group partners with thousands of financial market participants to deliver services, solutions and technology platforms that enhance the user experience and make scaled administration simpler.
They help manage regulatory complexity, improve data management and provide the tools to connect people with their assets, leveraging analysis, insight and technology.
For more information, please visit: www.linkgroup.com
Smart is a global savings and investments technology platform provider. Co-founded in 2014 by Andrew Evans, Group CEO, and Will Wynne, Group MD, it is one of the UK's largest providers of workplace pensions. Its award-winning master trust, Smart Pension, is overseen by independent professional trustees.
In 2020 Smart Pension was named Master Trust Offering of the Year at the Pension Age Awards. Other awards include DC Master Trust of the Year, DC Innovation of the Year and Retirement Innovation of the Year in the 2019 UK Pensions Awards. Smart Pension was also named European Pension Fund of the Year 2019 in the European Pension Awards.
Legal & General Investment Management (LGIM), J.P. Morgan, Link Group, Natixis Investment Managers, Barclays, Chrysalis Investments and DWS Group are all investors in Smart.
We tweet as @SmartPensionUK.
Contact the Smart press office on 020 8016 2553 or email [email protected]