190 people are currently employed at the Hove office
Aegon is planning to move Cofunds’ services that currently run from Hove to its office in Witham.
It is expected the Hove office will close by mid-2018.
The Hove office runs the investor portfolio service, which lets advisers and customers manage their investments online.
There are 190 people employed at the Hove site who will have the option of moving to the Witham office.
A statement from Aegon says: “While people affected by this change were informed this week of the plans, there will be no immediate changes while we consult with our employees. To support staff ahead of the proposed office closure next year, a consultancy has been brought in to help support individuals with recruitment advice.”
Aegon also announced today that it will be increasing the number of people working in Cofunds’ operations and investment administration teams by 50.
Those teams manage adviser requests and process trades on the platform. Aegon expects the number of people working in those teams to grow from 300 to 350 in the coming years.
The statement says: “The purpose of the changes is to align the Cofunds and Aegon platform operations so that individuals have the same working practices across the two businesses and job titles and team structures are aligned.”