Following a recent investment from private equity house Equistone Partners Europe, WEALTH at work has made its first strategic acquisition.
WEALTH at work, itself a leading provider of financial education, guidance and advice in the workplace, has acquired a direct competitor – Life Academy, the education and employee engagement programme provider based in Newport, Wales.
The acquisition sees WEALTH at work increasing its footprint in the market at a time when demand is increasing significantly due to the recent pension changes, which is driving organisations to provide comprehensive pre and at retirement financial education and advice for their employees.
Under the leadership of Greg Thorley and Richard Ayers, Life Academy has become a highly respected provider of financial education trading with over 50 companies in both the private and public sectors. This includes the provision of both face to face and online financial education tools.
David Cassidy (pictured), Chief Executive Officer, WEALTH at work, says: “We are very pleased that Greg, Richard and the Life Academy team have agreed to become part of WEALTH at work. Both companies have many similarities from a financial education perspective in terms of their service offering so as one organisation we can continue to build and develop the services our clients need. Since the pension changes, there has been an increased demand in the number of employers who want to provide t financial education in the workplace supported by individual guidance and regulated advice. Life Academy clients can now benefit from these additional services and WEALTH at work now has extra capacity to meet the increasing demand.
“In addition, Life Academy has developed highly innovative online tools which we aim to offer to WEALTH at work clients.”
Greg Thorley, Director, Life Academy, says: “Both companies provide financial education in the workplace but this partnership will allow us to deliver the full end-to end journey for employees, enabling them to take control of their finances, especially at-retirement, at a time when it has never been so important.”
Steve O’Hare of Equistone Partners, says: “We are delighted to have helped WEALTH at work acquire one of its direct competitors as we continue to build on becoming the leading provider in the sector and add to our capacity to meet the growing demand for WEALTH at work services.”
