Aegon's buyout of adviser platform Cofunds is a "game changer" and presents a chance for the platform to dominate the sector, chief executive David Hobbs has said.
Hobbs said the £140m deal, announced this morning, allowed Cofunds to put to rest adviser worries over its long-term future. Cofunds now has the chance to "really dominate in the UK intermediated sector" as it is set to benefit from better technology and wider investment choice, he said. Hobbs said: "I think it's a game changer and a really exciting step forward. For the biggest platform in the UK market to tie up with somebody who's got great technology, a desire and aspiration to commit to this market and help advisers grow and build their businesses and I expect great things to co...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes