The business was formed in 2018 as a strategic investment by Western Pension Solutions (WPS), the pension consultancy for family businesses, which is part of the Vestey Holdings Group.
Vestey Holdings is a fourth generation, family-owned business, whose origins stretch back to the 1890s. Like many large multi-generational businesses, Vestey had a legacy defined benefit pension scheme, which was successfully secured by way of an insurance Buyout in 2016. It has subsequently supported the development of an advisory business aimed at achieving similar outcomes for other sponsors.
Through common ownership and shared values, K3 and WPS work closely together to influence the development of the UK defined benefit pensions market for the benefit of their respective clients.