Thinc Group has acquired employee benefits consultancy PIFC Consulting.
The acquisition is Thinc Group’s first significant move into the corporate benefits market. PIFC has a fee-based remuneration model and provides benefit solutions to companies in the financial services, media, legal, insurance and IT sectors, many of which are UK subsidiaries of multi-national organisations.
John Simmonds, chief executive of Thinc Group, said: “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.”
Thinc Group was bought by AXA in November 2006 and is an independently run subsidiary.