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.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.