IFA firm Thinc Group has expanded into the corporate benefits market with the acquisition of PIFC Consulting.
Thinc, AXA’s independent distribution firm, says the HR and employee benefits consultancy, which runs on a fee-based remuneration model, fits in with the group’s long term plans.
PIFC Consulting provides benefit solutions to companies in the financial services, media, legal, insurance and IT sectors, across countries including the UK, US, Japan and Korea.
John Simmonds, chief executive of Thinc Group, says: “This is an important acquisition.
“PIFC is a well run, profitable business with an excellent reputation in the corporate market, making it a valuable addition to the Group.
“Our stated strategy is to build a scale, professional advice business that aggregates assets through a predominantly fee-based model.
“PIFC’s focus on the employee benefits market supports this strategy through its strong relationships with talent rich, people businesses with high levels of remuneration”
Nick Burns, managing director of PIFC, adds: “We all know the market is changing.
“The future belongs to better capitalised firms able to offer a wide range of financial solutions in whatever manner suits the client.
“AXA’s vision and commitment was a major factor in our decision to join Thinc and we are excited by the possibilities that lie ahead to dominate the corporate mid-market.”
Paul Evans, executive director of AXA UK, says: “We have ambitious plans to expand the Thinc Group into a market-leading advice firm and I am delighted that the Group has successfully attracted one of the premier consultancy firms in London.”
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