Defined Benefit  

Just targets bulk transfer service with adviser takeover

Just targets bulk transfer service with adviser takeover

Just Group has acquired a 75 per cent stake in Corinthian Pension Consulting, a firm which provides professional advisory services to defined benefit (DB) pension scheme trustees and scheme sponsors undertaking bulk scheme exercises.

This acquisition will complement the provider’s offer under its Hub Pension Solutions – a service created in May that provides a digital platform for advisers to generate transfer value analyses for individual scheme members, and for trustees to access up-to-date individual scheme benefits.

Corinthian’s team has carried out transactions in the DB market for more than twelve years, the provider said.

Article continues after advert

Robert MacGregor, managing director of Corinthian Pension Consulting – who will continue at the firm as chief executive - said the company has advised more than 100,000 members in 70-plus scheme exercises since it was created.

He said: "We’re now seeing unprecedented demand for our services and that’s why we believe becoming part of Just Group makes such good sense.

"Bulk scheme exercises are challenging from both a technical and advisory perspective – so it’s vital to choose the right business partners if you’re to get the best outcome for trustees and their members.

"We’ve worked closely with Just Group’s new fintech business, Hub Pension Solutions, and that’s why we’re entirely confident becoming part of the group is a positive move for us and our clients."

In May Just partnered with administration platform of Spence & Partners, a privately owned firm of pension consultants, actuaries, and IT specialists, to produce up-to-date member data in real time for Hub Pension Solutions.

The facility allows advisers to generate transfer value analyses for individual scheme members and for trustees to access up-to-date individual scheme benefits.

At the time Just said it wants to "transform" the way parties implement and participate in bulk DB transfer exercises, which are often done in a broad-brush way, where Tvas reports are generated for all scheme members, not just the ones interested in a potential transfer out.

maria.espadinha@ft.com