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SIPP property transfer offer extended

08 August 2016

 

Xafinity offers support to advisers caught in provider consolidation.

 

Due to consolidation activity in the SIPP market, Xafinity is extending the deadline for its property transfer offer to advisers caught up by the recent SIPP/SSAS consolidation activity. 

 

The offer applies to the transfer of property from an existing SIPP or SSAS provider into Xafinity’s SIPP.  

 

The offer looks to support clients with SIPPs and SSAS who are either concerned about or are experiencing high charges and / or poor service, particularly as a result of administrator consolidation, but find the costs of transferring prohibitive. 

 

Xafinity will waive its “property set up fee” of £850 + VAT per property and the offer will now run until 31 December 2016, with a deadline for the transfer of property of 31 March 2017.

 

Andy Bowsher, director of Self Invested Pensions, Xafinity said: “The recent consolidation of providers is on the whole probably positive news for advisers. However, property has not always been a core asset class for many providers and as a result delivering good service at a fair price will be a struggle. Xafinity specialise in property.  We have a portfolio of around 1650 units, and are continuing to invest in our operations for the long term to ensure flexible and personal service to serve advisers and their clients.”

 

Xafinity reported SIPP new business growth of 80% in the first quarter of 2016 compared with the same period last year, and 47 new adviser companies placed a new SIPP with Xafinity for the very first time in 2016.

 

For more information:

Charlotte West

Xafinity 

T: 020 3725 7024

E: charlotte.west@xafinity.com

 

Vaughan Andrewartha 

Votive Communications 

T: 0207 248 6058

E: Vaughan@votive.co.uk