Quantuma managing directors Sean Bucknall and Andrew Watling were appointed as joint administrators of the businesses on 25 April 2023 and completed a sale of the business and its assets shortly afterwards.
Gaudi is a top ten UK firm of SIPP providers. It offers white label services to assist own-brand pensions and/or investment business. It provides the technology, administration, technical and compliance expertise for over 20,000 SIPPs and has 13,500 customers. According to its latest set of accounts, it recorded revenues of £2.1m and had net assets of £1.5m.
The business and its assets have been acquired by Platform One, an intuitive investment platform with £2.7bn assets under administration on its technology. The company runs a software as a service model alongside its popular UK wrap platform, which means it licences out its best-of-breed technology to advisory, wealth management, investment and fintech firms around the world.
Gaudi employs 20 staff all of whom will transfer to Platform One by TUPE.
Quantuma managing director and joint administrator Sean Bucknall said,
“Claims arising as a result of a small number of complaints made to the Financial Ombudsman Service would have rendered the company insolvent and unable to meet the FCA’s capital adequacy test. It was therefore imperative that the directors sought to take appropriate action to protect the interests of their customers and mitigate any impact of an impending insolvency on them.
I am delighted to have achieved such a positive outcome and am grateful to the FCA and the team at Platform One in the roles they have played in getting this transaction completed and in doing so, protecting the interests of the SIPP holders and securing the long term future of this business under new ownership.”
