STM Group plc (GB:STM) has released an update.
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STM Group Plc has entered into a commercial agreement with Smart Pension Limited to transfer members from its Options Master Trust, amid market consolidation and increasing regulatory costs making smaller trusts less viable. The deal could potentially realize up to £4.8 million for STM, paid over two years, with additional revenue expected from an introducer agreement with Smart. STM’s CEO expressed confidence in Smart’s ability to provide a beneficial service for members, highlighting a strategic move in response to an evolving pensions landscape.
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