Aegon has been up for sale for several months and it is now confirmed that Standard Life will take over the business in a deal worth £2bn. As Pensions Expert reports this creates a retirement savings giant.
According to Standard, it puts it at number two, presumably closing on Aviva.
A couple of points - that haven't perhaps been majored on. It gives Standard a significant fund platform - which was previously Cofunds - so it will be interesting to watch developments there.
Aegon, as part of the deal, will hold 15% of the group so no longer a player but arguably a strategic investor. And it doesn't include Aegon Asset Management.
Aegon globally will become TransAmerica at the very start of 2028, so it will linteresting to watch the brand decision for the asset management business.
I did analyse some of the matters in an article for Octo Members.
Former Standard boss Sir Keith Skeoch warns that 'We're way short of getting Britain investing'.
Wealth managers are predicting that the IHT change will speed the transfer of wealth down the generations, perhaps unsurprisingly as New Model Adviser reports.
Advisers are increasingly viewing platforms and managed portfolio services (MPS) as a single system rather than separate components, according to new research from Morningstar Wealth in collaboration with the Lang Cat, as Money Marketing reports.
The study, based on responses from more than 180 advice professionals, finds that alignment between platforms and MPS is becoming critical to how firms deliver advice, particularly as centralised investment propositions (CIPs) evolve.
FTAdviser brings formerly Mail group consumer champion Tony Hetherington into its stable of columnists. It notes that he has been fighting against scams for more than three decades.
Interesting to see how he is deployed in a trade website.
