Pensions and SIPP provider @SIPP has hired Matt Storey from XPS as its new head of business development.

The number of pension trustees who are encouraging members to take regulated financial advice has increased by 9% over the past year.

The latest data on pension transfers from pension firm XPS suggests a “significant increase” in the proportion showing signs of potential scam activity.

XPS Pensions Group, the actuarial, consulting and admin business, is to acquire the business and key assets of Manchester-based SIPP and SSAS provider Michael J Field Consulting Actuaries for £3.75m.