K3 Advisory wins Innovation Award at the 2023 Pensions Age Awards
K3 Advisory, the pension market’s only specialist independent bulk annuity and consolidator advisory business has been awarded the Innovation Award at this year’s Pensions Age Awards[1], held last night in London.
Adam Davis Managing Director at K3 Advisory said: “Since K3 was founded in 2019, we’ve dedicated ourselves to the bulk annuity market, in particular helping small schemes secure their place in the very crowded insurance market.”
[1] The Pensions Age Awards aim to reward both the pension schemes and the pension providers across the UK that have proved themselves worthy of recognition in these increasingly challenging economic times.
Innovation Award Winners 2023
“Last year, when mega-deals were getting all the attention, the market for small schemes was clearly under threat. At K3 we know this space intimately, and we worked tirelessly with several insurers to innovate and develop their small scheme processes and keep the market alive for small schemes. Not only that, but we turned what were previously indicative quotes to binding quotes; the whole buy-out process is now much quicker and more effective for everyone. Our quickest deal last year took just three weeks to complete! We also launched our Small Scheme’s Index, monitoring buyout pricing using live data from real transactions across multiple insurers for small schemes. This index, a first of its kind for the industry, and ensures that our clients can identify when to seize the market opportunities that come their way.”
Davis concluded: “As a market leader and innovator, we are constantly looking to redefine preconceived notions about our industry and push things forward for everyone. Last year, we feel we really pushed the boundaries and moved the industry forward so to excel in the innovation category and be commended for DB derisking and outstanding client feedback was very pleasing.” As a small specialised team, to get that recognition from such prestigious and respected judges, and against such big and well established organisations in our category, is a huge honour.”
Note to editors:
1. The Pensions Age Awards aim to reward both the pension schemes and the pension providers across the UK that have proved themselves worthy of recognition in these increasingly challenging economic times.
About K3 Advisory
K3 Advisory is the pension market’s only specialist independent bulk annuity and consolidator advisory business. Using first-hand experience from both the insurance and pensions sectors, K3 Advisory provides trustees and scheme sponsors with advice and brokering services to secure a smooth and effective transfer of liabilities to an insurer or consolidation vehicle.
The business was founded in 2018 with the aim of improving the efficiency of the bulk annuity and consolidation markets for the benefit of all involved. The business is backed by the Vestey Holdings Group, a fourth-generation family business whose origins date back to the 1890s.
See K3 Advisory for more information.
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