L&G takes control of Cofunds platform in £131m deal
The firm already owned 25 per cent of Cofunds, which offers administration and management services for advisers and their clients, and looks after more than £50 billion in funds.
Following the acquisition, which is subject to regulatory approval, L&G’s savings division will have assets under administration of £103bn.
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Hide AdMark Gregory, chief executive of the division, said: “The Cofunds team have done a fantastic job in growing the business to be the largest platform in the UK market.
“We have worked with the team over a long period and recognise the excellent value and customer service the platform provides, and look forward to working with them to grow the business.”