Provider Standard Life has changed its mind and is likely to take an ownership stake in the IFA distribution channel in the lead-up to demutualization, reports The Scotsman.
This is unlikely to be a controlling stake, as in the case of Dutch insurer Aegon, but more in the style of stakes announced by competitors Norwich Union and Scottish Widows. ”Standard Life needs a strong distribution industry and there is certainly a thirst among IFAs for a strong Standard Life. A minority investment is a good way of securing that relationship. It is just another box that Standard Life needs to tick before demutualisation next year,” the paper quotes an ‘observer’. The Scotsman notes NU has holdings in six IFAs, including Millfield, while Aegon has made 13 investment...
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