UK/NETHERLANDS - Financial services group Aegon has acquired a 60% stake in Newcastle-based IFA Positive Solutions for an undisclosed sum.
The IFA – which has been operating since 1997 – will become part of Aegon Distribution Holdings which also includes Wentworth Rose, Advisory & Brokerage Services and Momentum.
Positive Solutions will likewise retain its existing identity and have its own board.
Aegon Distribution managing director Peter Dornan will join the IFA’s board while David Harrison will remain as chief executive.
Separately, Aegon’s Dutch arm, Aegon Nederland, is looking to acquire administration agency TKP, according to reports.
The agency was set up by the Dutch telecoms and postal service pension schemes, KPN and TPG, and serves six pension funds with assets of some E6bn.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
Jupiter Asset Management's Abbie Llewellyn-Waters, manager of the Jupiter Global Sustainable Equity strategy, explains why firms need to integrate ESG into their business model