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Aegon takes 9% stake in Aurora

Aegon UK is buying a 9 per cent stake in Aurora Financial for an undisclosed fee, bringing the number of its acquisitions and strategic investments in IFA firms to nine.

Aurora, formed from the merger of Jackson Batten and Advisory & Financial Planning Services last July, specialises in employee benefits and has 38 RIs.

Aegon UK&#39s fee for the stake in the company rem-ains undisclosed, with an option to take a bigger stake left open.

The deal is part of a string of buys aimed at building a framework of IFA distribution for Aegon&#39s products across the UK.

Companies so far acq-uired by the group include Advisory & Brokerage, Momentum and Positive Solutions. Aegon has stakes in Berkeley Berry Birch, Lighthouse and 50 per cent of Wentworth Rose.

Aurora chairman and joint chief executive David Taplin says: “Aurora will retain its existing identity and have its own board which will include Peter Dornan managing director of the Aegon business unit.

“The deal will provide some extra capital to progress and we are looking to increase our RIs to 56 over the next 12 months.”


Zan brings in account managers to aid IFAs

Zurich Advice Network is setting aside £4m and recruiting an array of industry heavyweights to provide support and shore up its tied salesforce of 3,500. It has recruited six people for the new role of account manager, who will help advisers in the field. These include Lawrence Hawthorn, who joins from Scottish Life and was […]

Most high-flying funds fizzle out

Nearly all the 50 top-performing funds between 1992 and 1997 had slipped down the rankings by the end of last year, according to Close Wealth Management. Only three of the funds remained in the top 50 between 1997 and 2002. Of the remainder, the average ranking plummeted to 524th. The biggest faller was Old Mutual&#39s […]

Winterthur Life offers multifund investment bond

WINTERTHUR LIFE Investment Bond PRODUCT DETAILS Type: Unit linked bond Aim: Growth by investing in a choice of 45 funds and seven managed portfolios Minimum investment: Lump sum £15,000 Fund links: Choice of 45 funds and seven managed portfolios from Artemis, Baillie Gifford, Credit Suisse, Dresdner RCM, DWS, Exeter, Fidelity, First State, Gartmore, Investec, Invesco […]

Millfield aims to draw new RIs with share plan

IFA Millfield Partnership is introducing a share scheme aimed at encouraging new advisers to join while rewarding existing RIs. The scheme, set under the brand Adviserco, aims to allocate new and existing advisers with shares linked to a points-based system, rewarding individuals on turnover, qualifications and the performance of the Millfield Group as a whole. […]


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