Legal & General has acquired the remaining 75% of Cofunds it does not currently own, in a deal worth £131m.
Legal & General has agreed to acquire the 75% share capital of Cofunds which it does not already own, for a cash consideration of £131m.
The Financial Services Authority is planning to ban rebates on legacy business which are paid by fund groups to platforms from 2016, in a move which will shake up the platform industry and force providers to charge groups for additional services.
Standard Life is investigating an error that has left thousands of advisers being quoted inflated fund prices on a number of platforms.
Cofunds, the UK's largest platform, has backtracked on its unpopular policy on re-registration after an outcry from peers and advisers.
Cofunds has become the UK's first platform to pass £50bn of assets under administration (AUA).
Former Cofunds head of sales and marketing Alastair Conway has joined James Hay Partnership as chief executive.
Former Cofunds head of commercial Russell Lancaster is joining Fidelity as sales director.
Former Cofunds chief executive Brett Williams is to take an advisory role at Kuber Ventures, a multi-manager platform for Enterprise Investment Scheme (EIS) portfolios.