Cofunds and L&G have staked a claim to provide for the full spectrum of distribution in the post de-polarised financial services world through a move to create a "strategic alliance".
Essentially, the deal will combine Cofunds’ links with IFAs with Legal & General’s focus on multi-tie propositions whilst sharing a branding platform for new products. First new product development will focus on an onshore investment bond and a personal pension, with a target of rollout sometime between April to June 2005. The bond and pension products will be branded according to which distribution routes are being targeted: Cofunds branding for IFAs, L&G branding for the multi-tie market. Administration will be shared between the two companies. Reasons given for the deal inclu...
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