Smith & Williamson has sold Guinness Mahon Trust Corporation (GMTC) to Hartley Pensions.

Adam Stephens and Nick Myers of Smith & Williamson were appointed as joint administrators of GMTC following an application made under the Insolvency Act 1986 and with the consent of the FCA, on 17 February 2020.

Immediately following their appointment, the pair concluded the sale of the business and certain of its assets to Hartley.

This included the effective transfer of the around 4,000 Self Invested Personal Pensions (SIPPs), worth approximately £300 million, which were previously administered by GMTC.