Alexander Forbes Financial Services Ltd, the UK arm of JSE-listed Alexander Forbes Ltd is the top independent financial advisor (IFA) in the UK pensions market according to a survey published by Money Management.
The survey of the UK`s top 100 pensions IFAs was drawn from research conducted by Matrix Data, a firm of data analysts specialising in the IFA market, and was published in the March issue of Money Management, a Financial Times publication.
The survey covered 82% of the UK IFA market, including all the major players, and broke each firm`s total business down to obtain a specific turnover for investment, protection and pensions business. The firms were then ranked according to the total volume of their pensions business.
Alexander Forbes topped the rankings with turnover of lb 27m over the last recorded 12 month period, 77% of which was accounted for by pensions business.
Rael Gordon, group chief executive of Alexander Forbes, said the latest ranking highlights the extent to which Forbes is achieving recognition overseas.
"The UK market is important to us, and is a cornerstone of our offshore expansion strategy. Getting this profile in a respected journal will benefit our UK business enormously," he said.
Quoted in Money Management, Tim Morgan, managing director of Alexander Forbes Financial Services Ltd, said he continues to see opportunity in the UK pensions fund market despite the challenges currently facing the industry.
"The investment uncertainty in the UK is prompting employers to switch from defined benefit to defined contribution schemes. We have secured a niche in this area thanks to our ability to provide solutions to clients making the transition.
"Further the increased regulation of the pensions industry is an opportunity for business. The Green paper and the resulting white paper will create an increased need for employees to seek advice," he said.
Originally called Johnstone Douglas the company was formed in the early 1980s and became the largest privately owned benefits consultancy in the UK. It was acquired by Alexander Forbes in 2000 and has consistently been among the top UK IFAs by turnover.
The company has its head office in Croydon, and a staff of 300. It specialises in providing a service to companies and individuals across employee benefits and financial services.
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