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Displaying items by tag: Xafinity

Monday, 29 March 2021 12:57

Xafinity SIPP and SSAS rebrands as XPS

Xafinity SIPP and SSAS has rebranded as XPS Self Invested Pensions following the creation of XPS Pensions Group three years ago when Xafinity acquired the actuarial and administration divisions of Punter Southall.

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Thursday, 28 November 2019 12:48

Xafinity SIPP/SSAS tops 2,000 commercial properties

Xafinity SIPP/SSAS has reached the milestone of having 2,000 commercial properties under administration for our clients.
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Pensions group XPS, owner of the Xafinity SIPP and SSAS business, has launched XPS Transfer Watch, a service to track pension transfers by value and activity.
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Pension transfer values as measured by Xafinity SIPP owner XPS increased by nearly £5,000 during February before dropping sharply to end unchanged over the month.
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Monday, 04 March 2019 16:03

Xafinity cuts fees on SimplySIPP product

Xafinity SIPP and SSAS has cut fees on its SimplySIPP product and upgraded technology for advisers.
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Xafinity SIPP and SSAS Services, part of the XPS Pensions Group, has reported an increased level of activity in commercial property transactions in 2018.
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Xafinity SIPP Services has reported strong annual growth with assets under administration hitting £2bn but warns that the SIPPs sector is standing on a “precipice.”
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XPS Pensions Group, owner of the Xafinity SIPP and SSAS business, is acquiring police pensions specialist Kier Pensions from Kier Business Services for £3.5m in a double deal.

At the same time as the acquisition of Kier Pensions, the company is selling its Healthcare Consulting Business to Punter Southall Health and Protection for £1.25m in cash.

The company says the transactions will “further strengthen the company’s strategic focus.”

Kier Pensions provides third party pension admin to public sector clients, including approximately half of the police forces in the UK, according to XPS.

The deal adds to XPS’s pensions administration business, XPS Administration, and gives XPS for the first time a presence in the public sector third party administration market.

Kier Pensions Unit, part of Kier Business Services, a division of Kier Group, will be acquired for a total of up to £3.5 million in cash.

XPS’ Healthcare Consulting Business provides consulting services to companies involved in healthcare benefits for employees and will be sold to Punter Southall Health and Protection, a subsidiary of Punter Southall Group, for an estimated £1.25 million in cash.

Paul Cuff, co-CEO of XPS Pensions Group, said: “We are delighted to announce these two deals today. They are both consistent with our strategic focus on our core market of workplace pensions.

“The acquisition of the Kier Pensions Unit will add to our strength in the pensions administration market and has the potential to open up new opportunities in the public sector. Meanwhile we are pleased to find a good home for colleagues in our small Healthcare Consulting business, where we expect them to thrive in the future, whilst we focus relentlessly on what we do best.”

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XPS Pensions Group, the recently enlarged SIPP, pensions and consulting business, has reported total revenue for the 12 months to March increased by 27% from £52m the previous year to £66m.
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Xafinity Punter Southall has unveiled a new identity and will now operate under the XPS Pensions Group name.
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