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Positive Solutions to stay outside new group

Newcastle-based national IFA Positive Solutions will not be incorporated into Aegon UK&#39s Origen cluster of advisers but its relationship with Aegon remains amicable.

Aegon, which has a 60 per cent majority stake in Positive Solutions, decided to exclude it from the shake-up as it says its style would be unsuitable for this type of programme.

It says because Positive Solutions is a national while the rest are specialist regional firms, it is best placed to continue separately.

Positive Solutions has over 800 advisers and doubled its profits last year. Aegon has the option to acquire the remaining 40 per cent stake in two stages by 2007.

Aegon UK Distribution managing director Peter Dornan says: “Positive Solutions has not been included within the Origen plan because its operates on a different business model to the other firms. It has a unique technology proposition which drives its business model and sales support process. Origen is a much more traditional-style IFA.”

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