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Aegon completes £275m Guardian sale

Aegon has completed the £275m sale of its UK-based Guardian life and pension business to European private equity group Cinven.

Guardian, which manages over 300,000 life insurance policies in the UK, has been closed to new business since 2001.

Aegon Asset Management will continue to manage Guardian’s assets, which are worth £7.4bn.

Aegon UK chief financial officer Clare Bousfield says: “Completing the sale of Guardian marks an important step forward as we move into the next chapter of Aegon UK’s development, and focus our business on the opportunities presented by RDR and pensions reform.”



MPs told councils should refer care funding queries to IFAs

Councils should refer people who fund their own long term care needs to independent financial advisers, according to Partnership managing director for care Chris Horlick. Under current rules, people with assets of more than £23,250 are not entitled to means tested help from the Government toward the cost of their long term care. The Dilnot […]


MM Leader: Savers will suffer from this “Robin Hood” tax

As European politicians, trade unions and charities continue their push for a European financial transaction tax, it is worth remembering that ordinary savers will bear the brunt of this new levy. Announcing its proposed tax in September, the European Commission suggested individuals and businesses would not be hit by proposals aimed squarely at the financial […]


FOS backs Arch cru case against IFA

The Financial Ombudsman Service has provisionally upheld a complaint against an IFA who recommended clients to invest in Arch cru and ordered the adviser to pay redress. The FOS also warns the IFA will become liable for redress due to be paid under the FSA-agreed £54m compensation package if this is withdrawn before December 31, […]


Money Advice Service spent over £250,000 rebranding website

The Money Advice Service spent more than £250,000 rebranding the Money Made Clear and Consumer Financial Education Body websites before its launch in April. Labour peer Baroness McDonagh submitted a question to Parliament about how much the Money Advice Service spent on its website, including staff costs. In a written answer published this week, Treasury […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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