Cornmarket has announced the acquisition of K.D. Retirement Services Ltd. Cornmarket acquired 100% of the firm’s issued share capital on 4th April.

K.D., which trades as Capital Advisory Services (CAS), was established in 1987. As an intermediary, it specialises in the provision of financial advice and retirement planning services to Irish prison officers. It currently administers additional voluntary contributions (AVCs) and retirement investments for more than 1,000 customers nationwide.

Cornmarket is the largest broker providing financial services to public sector employees in Ireland and last year celebrated its 50th year in business. This latest strategic acquisition complements the Company’s focus on providing expert, tailored financial advice and insurance to public sector employees.

Commenting on the acquisition, Cornmarket’s Group Managing Director, Patrick Ryan, said:

We are delighted to welcome the customers of CAS to Cornmarket. Our focus is firmly on looking after the financial wellbeing of public sector employees and their families, and we look forward to supporting more prison officers and their families following this acquisition.

As we continue to grow, our customers remain our number one priority. Irish Prison Officers will benefit from Cornmarket’s expertise in public sector finances and the comprehensive suite of products and advisory services that we provide. Later in the year, in conjunction with our partners in the Prison Officers’ Association, we will roll out a retirement roadshow to help prison officers around the country plan for their retirement.”

This deal marks another important step for Cornmarket as it strengthens its offering to meet the specialised financial needs of public sector employees. It follows the Company’s acquisition of EIS Financial Services in 2020 which offers retirement planning and insurance services to the teacher market in Scotland.

Cornmarket previously acquired Penpro in 2016 which specialises in the provision of financial advice and services to members of the Garda Representative Association.

The purchase of K.D. Retirement Services Ltd. by Cornmarket has been approved by the Central Bank of Ireland.