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Aegon pays out £1m for 9.2% stake in Lighthouse

Aegon is continuing its distribution purchases by taking a 9.2 per cent stake in national IFA group Lighthouse worth £1m.

At an EGM this week, the Aim-listed IFA also approved a similar stake taken by Skandia, announced last month, for £1.2m.

Lighthouse has so far attracted 170 of Canada Life&#39s recently offloaded direct salesforce of 200 on to its books.

Lighthouse says funds raised will be used as part of the company&#39s recruitment drive.

Aegon has a twin strategy of buying IFAs outright and taking strategic stakes. It has bought IFAs Advisory & Brokerage Services and Momentum Financial Services, has a 50 per cent stake in Wentworth Rose and a stake in Assureweb.

Lighthouse chairman David Hickey says: “This is the third strategic deal that we have concluded in as many months.

“We are, I believe, extremely well positioned to continue improving our financial performance and are continuing to look for opportunities to take further advantage of the changes occurring in the IFA sector.”

Aegon UK head of public affairs Scott White says: “The key thing is our confidence in the businesses in their own right. Each are growing business entities and will have capital to back their business plans. We are still looking to get up to the optimum level of IFAs.”


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