James Hay has struck a deal with Towry for around 4,000 Towry Sipp clients to be transferred into the flagship James Hay Modular iPlan.
A retirement planning expert has said it is premature to believe that the overhaul in the pensions system means the the death of annuities.
Towry, a wealth adviser which runs its own in-house Sipp service, has warned that the impending further reduction in the pension lifetime allowance - due next April - will mean that many individuals with a well-funded pension pot will need to consider their options.
The average annual income needed for a comfortable retirement is £25,783, according to Towry.