Origo signs seven more SIPP providers to Options Transfers in just four months
Origo has signed another seven SIPP providers to the Options Transfers service in the space of four months.
The latest signings are: Barnet Waddingham, DP Pensions, Greyfriars, Intelligent Money, Momentum Pensions, Pensionology and Xafinity.
This is on top of the 22% increase in signings reported in February and brings the total number of SIPP brands on Options to 54.
The recent signings also bring the overall number of financial services brands being served by Options Transfers to 90, up by 15 since Talbot & Muir became the 75th signing in October 2015.
Paul Pettitt, Managing Director, Origo says: “Origo is proving to be the transfer service of choice for the SIPP market. Origo has a well-earned reputation in the market for providing tangible business efficiencies for its users and the ever-growing number of firms signing to the service demonstrates that Options delivers what it says it will on the tin.
“Options Transfers has the ability to transfer pensions either in-specie or in cash, or a combination of both, for pension pots of all sizes, which SIPP providers describe as ‘invaluable’.
“With the introduction of pensions freedoms, the speed and cost of pensions transfers have inevitably come under the spotlight. The days of paper–based processing is rapidly coming to an end. Not only is it now essential for firms operating in the pensions market to have an automated transfer process, but also it makes good business sense.
“Automation significantly reduces the time frame for effecting a transfer, on average speeding up the pensions transfer process from 10 weeks to six days, and some transfers through Options have been carried out in just minutes.
“There are assets held on SIPPs that, by their very nature, are complex and therefore can take longer to transfer but the more firms that stop processing manually and automate their systems, the better it is for the industry, creating efficiencies, cutting costs and above all, delivering a far better service to the end consumer.”
You can read more about our Options Transfers service here >