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Sipp provider and pensions consultant Xafinity has announced plans today to buy several divisions from rival Punter Southall Holdings for up to £153m.
Pension transfer value from the end of September to the end of October (as measured by the Xafinity Transfer Value Index) have remained relatively stable, fluctuating between £229,000 and £234,000, the company’s data shows.
Sipp and pensions admin provider Xafinity has recruited Mark Barlow from PwC to help drive the growth of the pensions business.
September saw a reverse of rising pension transfer values with average transfers measured by one provider dropping sharply over the month, falling by 4% from £240,000 in the first week of September to £230,000 by the end of the month.
Xafinity says it supports the announcement from the FCA this week that investment consultants - particularly those who advise pension trustees - are to be referred to the Competition and Markets Authority.
Analysis by a Sipp provider and pension consultancy has uncovered signs of potential scam activity in 1 in 12 pension transfer requests with unauthorised advisers among the worst culprits.
Average pension transfer values during July 2017 remained relatively stable after recent volatility, according to the Xafinity Transfer Value Index.
Pension transfer values continued to show considerable volatility in the second quarter of this year and decreased by 3.7% in June during the month.
Xafinity Group, the specialist in pensions actuarial, consulting and admin services, has recruited Dave Hodges as head of the National Pension Trust from Zurich.
A Sipps firm has announced it is moving to a model with two managing directors.
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