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21 February 2017
Xafinity SIPP Services Ltd has been appointed to the Openwork SIPP panel. Members of the Openwork advice network can now recommend both the ‘full’ XafinitySIPP and its sister product SimplySIPP.
The XafinitySIPP offers the widest range of SIPP investment options, including commercial property investments. Xafinity now administers 1700 commercial properties for its clients in the UK and sees this as a continued area for growth in the SIPP market.
The low cost SimplySIPP is often favoured by advisers investing client funds with Quilter Cheviot, one of Openwork’s approved Discretionary Fund Managers.
Jeff Steedman, Head of SIPP/SSAS Business Development at Xafinity said: “We are pleased to be chosen to work with Openwork and we are already working closely with their advisers up and down the country. Xafinity aim to provide a top class service to each and every Openwork adviser. In particular, I believe we will be able to use our expertise in commercial property investment to enable more and more Openwork advisers to identify and deliver great solutions for their clients.”
Mike Morrow, Wealth & Platform Director at Openwork, said: “We are delighted to offer this further enhancement to our SIPP proposition and remain keen to ensure that our advisers can progress with real confidence and choice. The Xafinity product and the supporting service is excellent and contains all the options, particularly for commercial property.”
Andy Bowsher, Director of Self Invested Pensions at Xafinity added: “We are thrilled that Xafinity is able to provide our SIPP products to Openwork’s advisers. Our management team has worked very hard over many years to establish our SIPP business and its products. It’s been a pretty crowded market for some time, but a new order is starting to emerge. We have remained very focused on the basics of providing a great product with personal service, at the right price, and with a strong compliance backbone. This is what underpins our strength.”
For more information please contact:
Louise Dolan, Partner, Camarco
Tel: 020 3757 4982 / 07446 870025
Rebecca Noonan, Senior Consultant, Camarco
Tel: 020 3757 4981 / 07900 340483
Notes to editors:
Xafinity Self Invested Pensions
The Xafinity Group is one of the UK’s leading specialists in pensions and employee benefits. Our expertise includes corporate pensions and actuarial services, flexible benefits, healthcare, and of course SIPP and SSAS. We have managed SSAS since 1979 and SIPP since 2004.
We have built a hugely experienced and growing team, with more than 60 specialised staff in our SSAS/SIPP business. We administer self-invested pension assets worth in excess of £1.7bn. Xafinity SIPP Services administers SIPPs and SSASs for around 5,000 clients. This includes around 1,700 commercial property investments, a specialist area of self-invested pensions.
We are committed to providing a professional and proportionate service, tailored to our clients’ needs and delivered cost effectively. Xafinity SIPP Services Limited is authorised and regulated by the Financial Conduct Authority.
About Openwork Limited
Openwork Limited is a leading financial services partnership with around 3,000 financial advisers operating across the UK. It operates as a directly authorised, multi-panel distribution network.
Openwork operates panels for pensions, annuities and protection (life assurance, critical illness, General Insurance), and selects top quality products via single high-volume providers for investments.
Where necessary Openwork advisers can access whole-of-market products, via referral to Openwork Market Solutions, the IFA arm of the group.
In the mortgage sector Openwork operates a panel of 29 lenders and is among the top three networks for almost all the major mortgage providers.
The Openwork Group is owned - via ordinary shares - by its Advisers with a 67.5% share, 7.5% by its employees and 25% by Zurich Insurance Company.
The Openwork Foundation is part of ZCT, registered charity number 266983
Further information on Openwork Ltd can be found at www.openwork.uk.com
© 2019 XPS Pensions Group - All rights reserved
Xafinity SIPP Services Limited is authorised and regulated by the Financial Conduct Authority. You can check our FCA authorisation here. Our reference number is 461791.