View more on these topics

Aegon platform assets hit £110bn

Aegon’s platform assets continue to increase after the acquisition of Cofunds as the life company looks to become the dominant player in the platform market.

Aegon reported net inflows of £1.4bn into its platforms for the third quarter of 2017 this morning, pointing to “favourable equity markets” as a boost to business.

The accounts note that over the period, Aegon spent around £13m in integration costs on bringing Cofunds and its existing Aegon Retirement Choices platform together.

UK chief executive Adrian Grace says: “We have an important couple of months ahead but I’m confident that if we stick to our task and focus on providing advisers with the tools and services that help them to manage their business more efficiently, both advisers and Aegon will be successful. The move to a single retail platform will mark a new chapter for the business, but the combination of Cofunds’ platform know-how and investment expertise, with Aegon’s pensions and protection heritage sets us up well for the future.”

The future of Cofunds: What next for a platform titan?

Aegon will soon begin phasing out the Cofunds brand.

Across Europe, new life says dipped 1 per cent in the quarter after Aegon completed the sale of most of its UK annuity book last year.



Editor’s note: Closing the Cofunds circle

When the ambitious team at Cofunds gave birth to the platform in January 2001, even they could scarcely have imagined it would reach the gargantuan size it has. At last count, the newly integrated Aegon/Cofunds platform had more than £100bn in assets under management. That’s almost £30bn more than nearest rivals Fidelity and Hargreaves Lansdown. […]

Friends Life pays out after pension transfer error

Friends Life has compensated a man after he lost money following a pension transfer that was not properly carried out. The customer, called Mr Y in The Pensions Ombudsman decision, wanted his plan – worth £1,622.77 at the time, transferred to another account he held with Friends Life. However, only £396.83 was transferred and the […]

AJ Bell looks at ex-Brown Shipley exec for CIO role

AJ Bell has hired Kevin Doran as its chief investment officer and Matthew Brennan as fixed income fund manager as it eyes further fund launches. Doran was chief investment officer at Brown Shipley until June 2016 and more recently the group head of research and strategy at its parent company KBL European Private Banking. He will […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment