Tenet Group has today confirmed Standard Life is its newest shareholder in the IFA network group while its existing shareholders have also increased their positions.
In a statement, the Tenet Group says Standard Life has made its first investment in IFA distribution while existing shareholders – Aegon, Friends Provident and Norwich Union – have also increased their shareholdings to give all four firms “similar levels of equity”. Remaining equity is held predominantly by the management, says Tenet, along with staff and member weightings. IFAonline
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