Hundreds of Cofunds’ advised clients have been locked out of their accounts after being moved to the new Aegon platform over the first May bank holiday weekend, the provider has confirmed.
In a statement, Aegon says there are around 400 advised clients who can’t access their account through the website. However, they can get access by phone or through their adviser.
An Aegon spokesman says: “We are working with these customers to complete the activation programme and expect them to be up and running in the next few days.”
Aegon completed its technology upgrade of Cofunds’ advised customers on the first weekend of May, moving more than 400,000 clients to the new platform.
Aegon created a clone of its Aegon Retirement Choices platform to move the Cofunds clients onto it and will merge the two systems later in the year.
However, there have been some problems with the transfer, with advisers reporting issues with logging in to the new system and having to wait a long time to speak with customer service staff.
The spokesman adds: “This is an important step for those who used Cofunds, bringing forward a large number of service enhancements such as an integrated pension and a wider investment range.”