3173

What 3173 does

3173 is a UK-based pension governance, advisory, investment, and technology group operating through three integrated subsidiaries: Dalriada Trustees (professional pension scheme trustee services, one of the UK's largest in this category), Mantle (a proprietary SaaS platform for defined benefit pensions administration and actuarial work, described as the most well-developed combined administration-and-actuarial platform globally), and Spence & Partners (pension consulting, including Scheme Actuary services to employers, trustees, members, and professional advisers in the UK and Ireland). The group serves defined benefit pension schemes, their trustees and employer sponsors, professional advisers, and scheme members, addressing regulatory complexity, trustee governance, and administration efficiency in a market undergoing consolidation.

The group's revenue mix combines subscription/recurring trustee fees (Dalriada), SaaS subscriptions on the Mantle platform, and project-based actuarial and consulting fees (Spence & Partners). Go-to-market is direct enterprise field sales to corporate sponsors, trustees, and scheme members, supplemented by thought-leadership content and a LinkedIn/Twitter presence. Pricing is not publicly disclosed and is structured around scheme size and complexity.

3173 is privately held and received a growth investment from private equity firm Synova in 2022, completed after FCA clearance. Since then the group has professionalized leadership, installing Bill Galvin (former CEO of USS and The Pensions Regulator) as CEO in 2024 alongside a new Group CFO, Non-Executive Chair, and General Counsel, while founder Brian Spence moved to a non-executive Deputy Chair role. Headquartered in London with a registered office in Belfast, the group operates primarily across the UK with Spence's services extended to Ireland.

Name

3173

Legal name

3173 Limited

Website

https://3173.co.uk

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

251–500 employees

Short description

3173 is a UK-based pension governance, advisory, investment, and technology group serving defined benefit pension schemes, their trustees, employers, and members through subsidiaries Dalriada Trustees, Mantle SaaS platform, and Spence & Partners consulting.

Ownership category

akta.pro rank

Product category

Pension Administration & Trusteeship

NAICS

Trusts, Estates, and Agency Accounts (52592), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)

akta.pro secondary industries

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA), Retirement Income Planning & Decumulation Advisory (FSAEABAD)

Keywords

• Pension scheme trustees
• Defined benefit pensions
• Pensions administration software
• Actuarial consulting services
• Pension governance advisory

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Professional Trustee Services: Dalriada provides professional pension scheme trustee services, operating as one of the UK's largest professional pension scheme trustee companies. Revenue generated through trustee service fees.
2. Mantle SaaS Platform: Software-as-a-service platform for defined benefit pensions administration and actuarial services. Provides subscription-based access to the Mantle platform for pension scheme management.
3. Pensions Consultancy Services: Spence & Partners provides pension consulting services including Scheme Actuary services to employers, trustees, pension plan members and professional advisers in the UK and Ireland.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

3173 is a UK pension governance, advisory, investment and technology group that operates three integrated subsidiaries: Dalriada Trustees (one of the UK's largest professional pension scheme trustee companies), Mantle (a proprietary SaaS platform for defined benefit pension scheme administration and actuarial services, described as the most well-developed combined pensions administration and actuarial platform globally), and Spence & Partners (pension consulting, Scheme Actuary and administration services to employers, trustees and professional advisers in the UK and Ireland).

Product overview

3173 is a pension governance, advisory, investment and technology group comprising three integrated business units. Mantle provides the core software-as-a-service platform for defined benefit pension scheme administration and actuarial services, described as the most well-developed combined pension scheme administration and actuarial platform anywhere in the world. This platform is complemented by Dalriada Trustees (professional pension scheme trustee services) and Spence & Partners (pension consulting, administration, investment and governance services). The group delivers integrated, cost-effective solutions enabling pension schemes to deliver sustainable and secure pensions.

Differentiator

Problem solved

Functional benefit

Products and services

• Dalriada Trustees Professional pension scheme trustee services delivered by Dalriada Trustees Limited to UK defined benefit pension schemes, trustees, employers and scheme members, providing governance, scheme oversight and trustee administration.
• Mantle Proprietary SaaS platform delivering defined benefit pension scheme administration and actuarial services, including a digital member engagement service, for UK pension schemes, trustees and professional advisers.
• Spence & Partners Pension advisory, management and administration services including Scheme Actuary, governance, actuarial and investment services provided to UK and Ireland pension schemes, trustees, employers and professional advisers.

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Isio: UK pensions advisory and administration firm spun out from KPMG, offering actuarial, administration, and trustee-related services. Comparable to 3173's Spence & Partners and a competitor to Dalriada in the professional trustee market.
• XPS Pensions Group: UK-listed pensions consulting, administration, and actuarial group with analogous DB pensions trustee and actuarial services. XPS is the most direct scaled public-market comparable for 3173's combined advisory, admin, and actuarial platform.
• Hymans Robertson: UK-focused actuarial, advisory, and pensions administration firm serving DB and DC schemes. Comparable to Spence & Partners on consulting and actuarial side, with a similar employer/trustee client base.
• Barnett Waddingham: One of the UK's largest independent pension consultancy and administration firms offering actuarial, investment, administration, and trustee services. Closely comparable to Spence & Partners' consulting and acts as a direct competitor to Dalriada Trustees.
• Lane Clark & Peacock (LCP): Independent UK pensions, investment, and insurance consultancy providing actuarial, investment advisory, and pensions administration. Directly competes with Spence & Partners and increasingly with Dalriada on professional trustee mandates.
• Buck (a Vivo Living company): North American-based actuarial, pensions administration, and consulting firm with UK presence. Comparable to 3173's combination of actuarial consulting and pension administration, though primarily US-focused.

Broad incumbents

• Mercer: Global consulting firm (subsidiary of Marsh McLennan) offering pensions advisory, actuarial, and investment services across UK and international markets. Overlaps with 3173's advisory and actuarial capabilities but operates across a much broader portfolio.
• Aon: Global professional services firm providing retirement and investment consulting, actuarial, and pension administration. Competes with Spence & Partners in actuarial and advisory work and with Mantle where Aon offers in-house admin platforms.
• Willis Towers Watson (WTW): Global advisory firm offering pension scheme actuarial, investment, administration, and trustee services. A broad incumbent comparable to 3173's combined offering but with much greater scale and international footprint.

Emerging players

• Procentia: UK-based pensions administration software provider whose IntelliPension platform is a direct competitor to Mantle in the DB administration SaaS market, particularly for mid-market UK schemes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/3173Group
• LinkedInlinkedin.com/company/3173group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 3173