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Aegon aims to be top 10 player in IFA market

Aegon Asset Management is revamping its retail fund business and product range in a bid to become a top 10 player in the IFA market in the next few years.

The Dutch giant&#39s retail fund business will this week be split into five groups, including disc-retionary sales, advisory sales, IFA sales, contact management and product strategy.

They will be under the control of director of institutional business Jon Bennett, who joins Aegon&#39s executive as part of the restructuring.

Bennett&#39s remit will inc-lude increasing sales thr-ough national IFAs, net works and the wider int-ermediary market in add-ition to directing discretionary sales, marketing and product development.

As part of the move, Aegon is organising its retail funds into three categories – tactical, specialist and mainstream – which it hopes will provide clarity to its fund range.

Some of Aegon&#39s funds will change to fit the struc-ture, including its UK blue-chip and UK equity growth funds, which will merge in April to form one of its mainstream funds. Other fund changes are also set to follow.

Bennett says: “The whole point is to ensure that we consolidate and build on the success we have already achieved. The only way to do that was to revise the structure we had in place and to incorporate all client-facing activities into the retail fund business.”

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