Axa confirms acquisition talks with Thinc Destini

Axa UK has announced it is in advanced acquisition talks with Thinc Destini to pick up 100 per cent of the business.

The deal was first revealed by Money Marketing in early July.

Axa says this would strengthen its position in the provision of financial advice in the UK marketplace.

Thinc Destini currently has around 650 financial advisers and approximately £3bn of funds under advice.

Axa Sun Life chief executive Paul Evans says: “Our discussions with the board of Thinc Destini are at an advanced stage and I hope that we can progress quickly to an acquisition.

“We believe an acquisition of Thinc Destini would represent an exciting development both for Axa and Thinc Destini and would allow both companies to forge ahead with their ambitious growth plans.

“Our intention would be for Axa to run Thinc Destini as an independent advisory firm, separate from Axa’s product provider businesses. In doing so, we would strengthen our presence in the distribution of life, investment and pensions products in the UK.”

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