French insurer Axa has announced that it is in talks to acquire UK financial advice business Thinc Destini to strengthen its presence in the distribution of life, investments and pensions products in the UK.
Paul Evans, chief executive of Axa Sun Life said: Our intention would be for Axa to run Thinc Destini as an independent advisory firm, separate from Axa’s product provider businesses.
Thinc Destini is a multi-channel advisory business with a National multi-tie, IFA and network model with more than 650 advisers. The business has approximately GBP3 billion of funds under advice and procured around GBP3 billion of mortgages for customers in 2005.
Thinc Destini was created a year ago by the merger of Thinc Group and Destini Financial Services Group. Axa did not disclose a price for the possible takeover.