Where am I? 
Home Pensions - Retail SIPPs
IFG group says it will breathe new life into James Hay and make it work for the IFA community.
Yesterday, the Dublin-based firm, which provides financial advice and pension administration services, revealed it had made an offer in principal for Santander's SIPP and wrap arm.
Tim Sargisson, managing director of IFG Financial services, says he hopes to make James Hay a respected provider amongst advisers.
"We think combining James Hay with our existing SIPP operation, The IPS Partnership, will enable us to really focus on the core SIPP offering," he says.
"James Hay was a relatively small part of Abbey and Santander and perhaps didn't get the attention it deserves, but we have the specialist knowledge of the SIPP and IFA market to create a proposition that works for advisers."
The £35m deal, which is still subject to financing and approval by both shareholders and the FSA, will see IFG acquire 100% of James Hay.
The combined SIPP operations of the group will eventually be rebranded under the James Hay name.
Sargisson says new business will continue to be processed at IPS's offices in Bristol, and no further decisions over staffing and operational arrangement will be made until the deal is finalised.
| Comment | IFG promises to make James Hay work for IFAs |
Related articles
From IFAonline
Categories
Tags
Comments
Related articles
Most Read
Audio / Visual
With the industry's biggest fund managers, IFAonline welcomes you to the media centre.
Ensure you never miss another story by following IFAonline regularly updated news feed on Twitter.
Events
Poll
|
|
Related Information
Job search
Adviser Careers will open the right investment career path for you. Search hundreds of vacancies on www.advisercareers.com now
In Focus
Traditionally, the purpose of a bank account within a pension scheme has been rather one dimensional.
Viewpoints
At first glance the pre-Budget report appeared to pose a major threat to SIPPs with the introduction of reduced tax incentives on personal pension contributions for those earning more than £150,000
sponsored by
James Hay Offline
Maybe IFG should first of all try to make it work for the poor suckers who fund their bonuses! I am not sure I want to stick around with a heavily indebted operation based in a bankrupt economy. I liked being with Abbey / Santander. At least if they go toilet they take the Spanish economy with them. As for this bunch of Irish jokers... Great isn't it. Welcome to my fourth Pension provider during the lifetime of my efforts to make provision for my old age. Merchant Investors, Skandia, London Life, James Hay and now IFG (who they?). I am not an IFA but I think I will IFO out of IFG asap... Nobody asked me. It just got sold over my head. And I am pretty p*ssed off about it. Gr8. I'm off...
Posted by: Alastair McFarlane