Escrow agent

Money sometimes need to be set aside (in ‘escrow’) under the control of more than one party to be used in specific circumstances.

In pensions, the account would hold monies paid by the pension scheme sponsor. Funds are protected and would only be released to either the pension scheme or the employer when certain pre-agreed trigger points are reached. Escrow accounts are often used at the time of a corporate acquisition or disposal to help manage risk and deliver certainty and security.

We act as an independent third party managing both pension and non-pension escrow accounts.

Why use a third party to manage an escrow account?

As well as handling all fiduciary duties and managing the receipt, investment and payment of funds, an added advantage of using a third party to manage an escrow account is the funds will be preserved in the event of an insolvency.

To learn more about escrow accounts and our escrow agent service, please contact us.