Adviser has 'lost clients' over Cofunds re-platforming issues

'The whole system is actually unmanageable'

clock • 4 min read

A financial adviser has told PA his firm has lost clients as a result of issues experienced with the Cofunds re-platforming move.

The adviser, who wished to remain anonymous, said he has about £100m of assets under advice invested through the platform. "They promised this new system - unfortunately it's gone drastically wrong," he said. "I've had to cancel meetings. I've had clients leave me, I've had clients complain and I can't trade [on the platform]. The whole system is actually unmanageable." Aegon completed the re-platforming of Cofunds users onto its new ARC-based platform on 8 May after undertaking the migration over the first bank holiday of the month. Last week Professional Adviser revealed Cofunds use...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Schroders UK Platform Awards 2024: Full list of winners revealed!

Schroders UK Platform Awards 2024: Full list of winners revealed!

See who took home a trophy at last night’s ceremony in London

Professional Adviser
clock 25 September 2024 • 1 min read
Fidelity and Abrdn among firms joining new investment platform trade body

Fidelity and Abrdn among firms joining new investment platform trade body

Platforms Association launches amid growing regulatory scrutiny

Valeria Martinez
clock 23 September 2024 • 2 min read
Half of advisers say platform cash interest rates help to bag new clients

Half of advisers say platform cash interest rates help to bag new clients

Consumer Duty has led platforms to improve fee communication

Jenna Brown
clock 12 September 2024 • 1 min read