The deal expands the range of services IGG provides to clients to now include the selection and oversight of investment consultants and fiduciary management providers.

IC Select specialises in helping trustee boards across the UK to select and monitor investment consultants and fiduciary managers, with a 16-year track record and over 150 years of combined experience across its team. The business enjoys a strong reputation for enabling trustees to access specialist investment expertise as well as managers capable of overseeing scheme assets in line with their long-term objectives and governance principles.

The acquisition represents a further opportunity for IGG to add complementary skills to broaden its service offer to clients. IC Select will gain resources and a broader framework to support its ongoing growth. The IC Select brand will be retained, reflecting its specialist offer and established reputation.

Peter Doward, managing director, will continue to lead IC Select, with founder Roger Brown also remaining with the business under IGG’s ownership.

The acquisition also allows IGG to establish a new Scottish hub in Edinburgh as part of its wider regional roll-out strategy. IC Select and its clients will be able to take advantage of IGG’s network of offices across the UK, home to more than 170 staff.

The move rounds off a phenomenal first year of growth and expansion for IGG, which acquired Clarity Trustees in February 2023 and like minds, the creative communications and employee engagement agency, in May 2023. The group will continue to evaluate complementary acquisition opportunities to accelerate its successful organic growth strategy into 2024.

Andrew Bradshaw, CEO of IGG, said: “I am delighted to welcome IC Select to the IGG portfolio.

“A key part of any Professional Trustee’s role is the ability to effectively monitor their Schemes’ investment performance. IC Select will enhance our ability to select and monitor investment consultants and fiduciary managers.”

Mr Dorward added: “The IC Select team has a hard-won reputation for specialist expertise. We look forward to combining our talents and service offering with our new colleagues at IGG to add value and deliver good outcomes for clients and scheme members.

“Joining the IGG family gives us a unique platform to accelerate our growth strategy as part of a business with a clear vision, a first-class team and strong momentum behind it. We’re excited to find a partner that shares our values and commitment to trustee services that are best-in-breed.”

Mr Brown added: “When I founded IC Select, it was with the sole purpose of helping trustees to achieve the best investment and fiduciary management for their scheme members to improve saver outcomes.

“That task has grown more important with every passing year, and I am delighted that IGG has recognised the strength of the proposition we have built. I am confident that IC Select will continue to thrive with the weight of IGG’s support behind it.”

Tracy Bownes, partner at LDC, said: “Adding IC Select to the IGG portfolio will enable the business to expand and enhance its specialist services, building on its strong performance in 2023.

“This transaction brings together two complementary business offerings with strong track records as leaders in their fields and we look forward to continuing to support the IGG leadership team as the business goes from strength to strength.”