A way to get the result is to select one of the faces at the end you want to move and press ⎈ CtrlH and select Hook to New Object, repeat for the other faces you want to move.
Go into object mode and select the empties that were just created. Enable the manipulate pivot points option (nice if we had this in edit mode) and scale the empties until the faces are where you want them.
Once the ends are in place, apply the hook modifiers and delete the empties.
I just realized that I can scale them normaly then switch to Pivot>Individual Origins and scale back the faces without moving them. And if I want to be super precise I can always check previous scaled value in the log but still, any option to do this in single step will be cool :)