Freetrade SIPP - Update

Freetrade Chat 🔥
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Hi all,

We just wanted to post the below message here for visibility as it’s recently been sent out to all of our SIPP customers.

The company that administers your SIPP on Freetrade (Gaudi) has been sold to Platform One. There’s no impact on the day-to-day management of your SIPP. On the back end we’re continuing to work seamlessly with the exact same team as before to make sure that the wrapper is administered in line with all of our obligations.

As ever, please do shout with any questions here or in the app.

Best,
Alex

An update about your SIPP

Hi :wave:,

Your Freetrade SIPP is operated and administered by Gaudi Regulated Services Limited.

Gaudi has told us today that they have sold their business to another company, Platform One.

What does this mean for my Freetrade SIPP?

From your perspective, there won’t be any major changes. Platform One will now be responsible for administering your SIPP, rather than Gaudi, but you’ll continue to be able to manage your SIPP via the Freetrade app, just as normal.

The sale to Platform One does not affect your pension plan or the investments held within it. The assets and money in your SIPP will continue to be held in the same way that they were held prior to the sale. They will be held by the same pension trust in accordance with pension scheme rules, and we will look after them as before.

There will be no costs to you for this change.

Who is Platform One?

Platform One is a wealth and investment platform that provides pension administration services to wealth managers and technology companies. Platform One has managed pension assets on its platform for a number of years.

Platform One Ltd. is an FCA Regulated Investment Services Firm (Reference Number 542059).

What happens next?

We’re letting you know about these changes to keep you informed. You do not need to take any action.

You will be receiving correspondence from Platform One shortly notifying you about this change in the administration of the Freetrade Pension.

If you have any questions please reach out to our friendly customer service team who will be happy to help.

Best wishes,

The Freetrade Team

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Interesting change.

I assume Freetrade has done a risk assessment of platform one? I realise you likely can’t share this, but are there any details you can share on your view of this company?

Is the company solid? Do you expect any transitional issues as they likely merge the acquisition at some point into the company more completely?

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For your information :

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Hey @Eden

We don’t expect any disruption. We’re working with the same team from Gaudi and it’s business as usual.

You’re right that we can’t get into any particulars about arrangements with service providers but I can say that as is part of our normal course of business, we keep all of these arrangements under constant review to ensure they meet our high standards.

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I read that this is more of a standard acquisition by platform one. Something they’ve been wanting to get into and provide as a service (sipps), so that’s a good sign

It looks like white labelling is a part of their service offering as well so that’s good not likely to change :slight_smile:

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The day after selling the pensions book to Platform One, Gaudi are placed into administration. Gaudi goes into administration amid Platform One Sipp deal - FTAdviser

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