Aegon has issued an apology to advisers in response to problems with the Cofunds replatforming.
The firm is also increasing headcount in its operations team by redeploying 200 employees to help deal with any further issues.
Advisers using the Aegon platform have reported numerous problems with it since it was integrated with the Cofunds business earlier this year.
Aegon digital solutions managing director Mark Till says: “We have written to all advisers who have used the newly upgraded Cofunds platform. Despite client data being migrated successfully, trades being placed and adviser charges paid, we fully acknowledge that the service has been below the standard advisers expect.
“Alongside a sincere apology, we have assured advisers that we are utterly focused on ensuring administration issues are resolved as quickly as possible.
“The delays are not what advisers should expect of us, and the drop in service is completely at odds with our commitment to deliver. I can assure advisers we are fully focused on ensuring these administration issues are resolved to deliver a more robust service in the future.”
Aegon has also written to customers using the new platform apologising for issues and saying any problems they have experienced are not the fault of their adviser.
The letter says: “I would like to offer you a sincere apology if you’ve experienced a technical problem such as not being able to login to our website, are waiting for us to process your paperwork, have spent long periods on the telephone to us, or haven’t yet received a response to an email.”
It adds: “This isn’t the fault of your intermediary, but is our problem and one we’re determined to resolve.”
The letter to customers says that it they were affected by a processing delay then Aegon will make they have not been financially disadvantaged if fund prices have risen.
The firm completed its technology upgrade of Cofunds’ advised customers on the first weekend of May, moving more than 400,000 clients to the new platform.
However, around 400 advised clients were locked out of their accounts after being moved to the new.
There have also been problems with the transfer for advisers, with some reporting issues with logging in to the new system and having to wait a long time to speak with customer service staff.
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.