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400 Cofunds clients locked out of new platform website

File images of financial data around the earthHundreds 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.”


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Graham Gingell 23rd May 2018 at 12:46 pm

    There are also a number of other issues…..

  2. Serious problems on 29 May 2018. Uncontactable, serious systems and controls failure and no-one but no-one gives a stuff. FCA cannot be bothered, phone lines drop dead due to volume of calls, no apologies. We spend so much time committed to service and compliance but at the end of the day no-one gives a stuff. It is anarchy out there.

  3. 8 June, three people in Aegon know of my client’s problem, waited a month to draw out a large sum which has still not been paid.The online system constantly fails one month after the takeover.

    Then we see a spokesperson come out and say there are a few teething problems with a few people, I am afraid the damage has been done to their reputation. This is after the CEO came out and said that the problems with the Aviva takeover of Friends Life would not be repeated.

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