XPS Pensions Group has acquired the business of Michael J Field Consulting Actuaries.
Michael J Field is a Manchester-based SIPP and SSAS provider. The acquisition, according to XPS, will strengthen its SIPP and SSAS pension provider, trustee, and administrator arm, XPS Self Invested Pensions. The combined XPS business will manage approximately 4,500 SIPPs and 1,500 SSASs as a result of the acquisition.
While the transaction is being finalised, the teams at XPS and Michael J Field will ensure continuity of service to clients and their advisors. There will be no changes to the terms and conditions or fees charged to customers as a result of the sale, and clients and advisors should continue to contact their existing contacts at each firm.
Under the terms of the agreement, the Michael J Field team of 22 employees will join XPS Pensions Group’s existing team of 70+ employees in the self-invested pensions team, with both firms maintaining their existing offices in Manchester and Stirling, respectively. The transaction will be completed in February 2022.
XPS Pensions Group director of self-invested pensions Andy Bowsher says: “We’re really excited to welcome the team from Michael J Field on board to join our growing business. Their specialist level of expertise complements our existing capabilities and will enable us to bring our offering of high-quality, tailored, great value SIPPs and SSASs to even more clients and financial advisers.”
Michael J Field Consulting Actuaries founding partner Michael J Field says: “Becoming part of XPS Pensions Group was a natural decision for us – they share the priority that we place on providing expert, personalised support to clients to help them reach their financial goals. This deal puts us in the best possible position to continue to serve clients with the dedication we have for the last 40 years long into the future.”
