Cofunds addresses IFA fears after coming ninth in Platforum survey
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Cofunds says it is not surprised that it was ranked ninth in the latest Platforum research and it is addressing adviser concerns over unbundling charges.
Money Marketing last week reported that Platforum’s IFA feedback service, which allows over 250 advisers to rank the platforms they use and give feedback on service standards and features, ranked Nucleus in first place followed by Novia, Transact, Ascentric, Standard Life, Axa Elevate, Skandia Investment Solutions, Fidelity FundsNetwork and Cofunds in ninth.
Cofunds sales and marketing director Alastair Conway says: “We are disappointed to be ranked lowly but I think that bearing in mind the Platforum audience, we would not expect to be ranked top at the moment because we have got some work to do to satisfy that type of adviser.
“It was noticeable that some of the older, bigger platforms were lower down the rankings and some of the newer, more holistic-approach-type platforms were higher up.
“Advisers say they want us to do more around unbundling of pricing and more around the technology to manage model portfolios and panels.
“We are doing both of these things in the year ahead and as such we are confident that we are ticking the right boxes.”
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Readers' comments (1)
Julian Sunley | 19 Feb 2010 9:34 am
I am a Cofunds user and have to say I have nothing bad to say about them. They have recently released some new portfolio tools which I think will get them further up the rankings at the next survey.
I run my own portfolios and will continue to do so but the fact that I will now effectively be able to upload these will reduce my administration going forwards. A key thing for me with Cofunds is that they do not 'run before they can walk' and only release tools once they actually work.
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