The wealth management and financial services company has boosted its offering through the acquisition of two UK-based SIPP businesses.

UK-based Wilton Group has acquired two pension businesses that together manage over £1 billion ($1.56 billion) of assets.

The company has acquired Hartley SAS, a self-invested personal pension (SIPP) and small self administrated scheme (SSAS) administrator, and the The Lifetime SIPP Company, for an undisclosed sum.

The deal will see the Bristol-based businesses' combined 32 staff join Wilton Group.

“Some time ago, we decided to diversify our traditional professional services offering by creating a more broadly based financial services business. These acquisitions are a significant step in that direction. They allow us to offer our clients a wider and more varied choice of financial solutions,” said Wilton Group's founder, Tony Flanagan.

“I am very excited about these new acquisitions; we are going to operate in an area associated with more traditional business. We provide solutions within the strict requirements of financial probity for a population who is living longer and for which the UK government is finding it difficult to fund,” said the group chairman at Wilton Group, Tony Barber.

Wilton Group, which operates from offices in London, the Isle of Man, Dublin and Dubai, provides a range of services including wealth management, tax planning, family office and trust services.