View more on these topics

Aegon takes over Marr firm and looks for more pension businesses

Aegon has swooped for another IFA, acquiring 100 per cent of London-based Advisory & Brokerage Services.

A&B has 29 RIs and is looking to expand by buying smaller firms. It will continue to be run independently under chief executive Gareth Marr.

The Dutch insurance giant dipped its toe into distribution in June by buying half of Wentworth Rose.

Aegon UK group chief executive David Henderson says he is looking to acquire up to 10 IFA pension specialist businesses by the end of the year as part of “phase one” of its strategy, followed by organic growth or other acquisitions.

Aegon will still take defensive shares in other IFAs.

A&B will not do business with Aegon-owned Scottish Equitable because of the current better than best rules but it will do incremental business.

Marr says: “There is a short-term opportunity for other providers to make hay with us but this just shows how committed Aegon are to the long haul.

“I am now looking to recruit IFAs and purchase some small IFA firms that may be too small for Aegon but fine for us.”

Henderson says: “I am looking to have a portfolio of about 10 IFA firms with expertise in pensions by the end of the year. I expect them to remain independent – the Aegon style is very decentralised.”


B&B renews Mortgage Brain contract

Bradford & Bingley has renewed its contract with Mortgage Brain for its mortgage outsourcing platform in a deal that will see B&B&#39s 1,000 advisers using the external quote engine.B&B has signed up Mortgage Brain as its exclusive source of mortgage quotations.Mortgage Brain chief executive Mark Lofthouse says: “Their endorsement of our mortgage sourcing service and […]

Fixed rate buy to let from Pink

Pink Home Loans is offering a buy to let mortgage backed by Mortgage Express with a fixed rate of 5.85 per cent until September 2007.The mortgage reverts to Ban of England base rate, currently 4 per cent, plus 1.75 per cent and is available up to 85 per cent loan to value.Redemption within the fixed […]

Friends Provident International – International Investment Bond

Friday, 16 August 2002 Type: Unit-linked bond Aim: Growth by investing in a choice of with profit fund (series 5), managed, UK index tracker, open managed portfolio, international stewardship, UK equity growth, stewardship ethical, global equity, North American growth, European growth, Far East growth, fixed interest, cash deposit, protected global growth, secure growth portfolio, balanced […]

FSA proposes three tiers of mortgage broker

The FSA has proposed three tiers of mortgage broker once regulation of the industry comes into being in 2004.In CP146, The FSA&#39s Approach to Regulating Mortgage Sales, published this week, the regulator has proposed three levels of broker, execution only without advice, information with filtered questions and full-blown advice.All three would require authorisation through the […]

Retirement fund - thumbnail

What price (more) freedoms?

George Osborne will make his last Budget speech of the current parliamentary term this week, and the early media briefings suggest that pensions will again feature heavily in that statement. So what are we able to learn from the weekend’s coverage?


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm