On the go: NFU Mutual recorded the leading score on Origo’s Transfer Index for the second quarter of 2022.
NFU’s overall transfer time sat at 5.3 days, while Hargreaves Lansdown and Quilter achieved notable improvements in the quarter.
B&CE Financial Services, the provider of the People’s Pension, meanwhile recorded the longest average transfer periods, with overall and simpler times coming in at 29.8 days and 29.6 days respectively.
Smart Pension was the latest provider to join the index, becoming the 28th member to publish its transfer data here.
Smart’s average overall transfer time sat at 18.1 days in the year to March 31 2022, which was slightly higher than the index’s average time of 13.5 days.
This overall average has remained largely unchanged from the 13.4 days recorded in the period to January 2022.
Smart’s average time period for “simpler” transfers, which are under the complete control of the provider, was 9.2 days, compared with the index average of 11.4 days.
Overall, 86.9 per cent of these transfers in the quarter registered a median time period of just 6.3 days.
Hargreaves reduced its overall time from January to 21.2 days from 29.6, while Quilter brought its average down to 18.7 days from 29.8.
“These providers are going to be among those delivering the fastest transfer times,” Origo chief executive Anthony Rafferty said.
By way of comparison, in April 2021 Hargreaves registered a mean average transfer time of 43.3 days.
