Zurich is considering selling its financial adviser platform, Zurich Intermediary, for a target price of £50m.
Aegon has been rumoured as a potential buyer of the platform. It wouldn’t be the first time for Zurich and Aegon to strike a deal, with the two firms launching a joint venture involving multi-asset funds earlier this year.
The Zurich Intermediary Platform has over £10bn in assets under management, around 50% of which are advised under the Openwork network, and has a 2.5% market share of the adviser platform market, according to marketing consultancy Lang Cat.
Zurich commented in a statement: “We regularly work with third parties to review the makeup of our business to ensure it fits with our strategy, and that individual parts are best structured to serve their respective customers and our distribution partners.
“We do not comment on the specifics of these reviews or speculation around them. We remain fully committed to supporting financial advisers and their clients.”
If you would like a broader knowledge of the process of selling your IFA business come to a Gunner & Co. seminar