Aegon buys Cofunds for £140m to become industry's biggest platform

L&G sells off adviser platform after months of speculation

clock • 4 min read

Aegon has bought adviser platform Cofunds from rival provider Legal & General (L&G) for £140m.

The deal was confirmed this morning following months of industry speculation.  Cofunds will continue to be led by David Hobbs and be run from its headquarters in Witham, Essex, with operational staff also located in Hove, East Sussex. Aegon said advisers who use Cofunds will be upgraded to an enhanced version of its platform. It added it would release a plan for development and integration on completion of the deal, which is subject to regulatory approval, in the last quarter of the year. Aegon UK chief executive Adrian Grace said: "From a standing start a few short years ago, we h...

To continue reading this article...

Join Professional Adviser

  • 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.



Already a Professional Adviser member?


More on Wrap/platforms

AJ Bell chief executive Michael Summersgill

AJ Bell pre-tax profit up 50% to £87.7m as platform numbers soar

Added more than 50,000 platform customers

Jenna Brown
clock 07 December 2023 • 3 min read
Three things that make platforms stand out to advisers

Three things that make platforms stand out to advisers

Continuous innovation in platforms is essential

Jonathan Sandell
clock 05 December 2023 • 4 min read
Seccl and Moneyinfo develop new client onboarding integration

Seccl and Moneyinfo develop new client onboarding integration

To provide advisers with ‘market-leading level’ onboarding efficiency

Isabel Baxter
clock 24 November 2023 • 2 min read