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IFG, the parent company of Sipps specialist James Hay, has confirmed it has received a bid offer.
Aegon UK has purchased Novia Investment Services from Novia Financial Holdings.
Pension liberation fraud has been named the hot topic of 2013 in The Pensions Regulator's annual review.
Three men have been banned from working in the financial services industry for "disgraceful failings" after £4m in commission was generated from moving investments unnecessarily.
More than 2m workers have begun saving into a workplace pensions scheme as a result of automatic enrolment but 3m are missing out on auto enrolment for a variety of reasons.
A Sipps specialist has warned that failing to make clients aware of options to protect their pensions against significant tax charges could haunt them in future.
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