Aegon UK is to buy Novia Investment Services Limited (NISL) from parent Novia Financial in a deal which brings its platform development business in-house, IFAonline's sister title Investment Week can reveal.
Launched in 2011, NISL was created by Novia to design and build Aegon's award-winning corporate platform, Aegon Retirement Choices. Having spent the last three years building and running the platform, Aegon has opted to exercise its option to buy it outright. The takeover will see the transfer of the 40-strong team that currently works at NISL, including the business' COO Richard Denning. The deal comes months after Aegon announced it was bringing the administration of the platform - which has already raised over £1bn in AUA - in-house. That will also transfer over in January. Ad...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
