The acquisitive Sipp provider has said that its medium-term growth plans might include a possible stock market flotation.
The retirement firm has been snapping up businesses and broadening its remit over the last 12-months, buying The Adviser Centre back in October 2016 and most recently taking over Charles Stanley’s pensions business, EBS Management.
It now administers about £11.5bn of assets for 110,000 customers.
News of a possible flotation was first hinted at by Richard Gabbertas, an audit partner at KPMG. The big four accountancy firm was appointed as external auditor for Embark and all its subsidiary companies on Wednesday, replacing existing auditors Rowanmoor and RCL.
“Embark represents to us exactly the kind of client that we wish to work with,” said Gabbertas.
“They are ambitious, focused and confident, demonstrated by their rapid growth over the last few years. The medium-term agenda of the business, including a potential IPO, is perfectly matched to our core competencies and our deep financial services experience.”
KPMG’s experience supporting IPOs was one of the deciding factors in appointing the group as external auditor, Embark said.
“KPMG offers Embark an excellent balance of competence, breadth and client service to meet all of our current and likely future needs,” said Vincent Cambonie, Embark CFO.
“I greatly look forward to working with Richard Gabbertas and his team as we continue to grow an exceptional, scaled business here at Embark.”
