Thinc Group has bought human resources and employee benefits consultancy PIFC Consulting, marking its first move into the corporate benefits market.
It says it was attracted to PIFC because of its fee-based model and reputation for providing employee benefits services in the financial services, media, legal, insurance and IT sectors.
Thinc Group chief executive John Simmonds says: “Our 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.”
PIFC managing director Nick Burns says: “Axa’s vision and commitment was a major factor in our decision to join Thinc and we are excited by the possibilities ahead to dominate the corporate mid-market.”
Axa executive director Paul Evans says: “We have ambitious plans to expand the Thinc Group into a market-leading advice firm and I am delighted that it attracted one of the premier consultancy firms in London.”