Cofunds compensates customer after re-platforming ombudsman complaint

£275 in compensation

clock • 3 min read

Cofunds has paid compensation to a customer after they had trouble viewing one of their ISAs online in the aftermath of the firm's re-platforming migration.

In June 2018, an advised client, whom the Financial Ombudsman Service (FOS) dubbed 'Mr T', attempted to activate his two ISA accounts on Cofunds' new website. However, he was only able to access one. Mr T contacted Cofunds on 12 June and claimed he made six calls but was unable to resolve things. He said he was put in queues, that Cofunds hung up on him, and that he was promised emails that never arrived. A week later, Mr T's financial adviser contacted Cofunds to ask that the accounts be held together but not merged, so Mr T could view both ISA accounts under one log in. In August, C...

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 Your profession

BoE governor assures chancellor that UK markets 'are functioning effectively'

BoE governor assures chancellor that UK markets 'are functioning effectively'

Banking system 'resilient'

Linus Uhlig
clock 09 April 2025 • 2 min read
Gilt yields increase as part of sell-off of government debt

Gilt yields increase as part of sell-off of government debt

Investor unloading of US Treasuries drags government borrowing costs higher globally

Jonathan Stapleton
clock 09 April 2025 • 1 min read
Generational loyalty: Simon Rogerson on client trust

Generational loyalty: Simon Rogerson on client trust

'The younger generation is more jaded, more cynical and less trusting'

Simon Rogerson
clock 09 April 2025 • 3 min read