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Aegon sets date for Cofunds advised clients move

Technology-People-Moving-Business-Finance-700.jpgCofunds’ advised clients will move to the new Aegon platform over the first May Bank Holiday, with the new platform expected to be up and running by 8 May, Aegon has confirmed.

Around 400,000 customers will be moved to the new platform over that weekend.

Aegon completed the first stage of moving Cofunds customers onto its new combined platform in December, transferring 79,000 non-advised investor portfolio service customers over Christmas.

Aegon says its advisory board wanted the provider to avoid the run-up to tax year-end when scheduling the switch.

Advisers and clients will be able to access the platform up until 5pm on 4 May and then from 8 May.

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Aegon chief distribution and marketing officer Mark Till says: “We’re very grateful for the time and effort given by the 30 adviser firms who have been closely involved in shaping our plans.”

He says: “We’re now in a position to combine the best of both the existing platforms, on Aegon’s technology. Advisers have received communications confirming the date and the benefits they can expect from the new service.”

Aviva is the other platform to conduct a major migration of clients so far this year, moving customers to its new platform run on FNZ technology.

However, Aviva has been beset with problems since it launched its new platform on 23 January.

This launch followed five-days of downtime but since then advisers have reported a range of problems, including difficulties running quotations, accessing valuations  and getting the platform to accept new applications.

Payments to advisers and clients have also been delayed as a result of the replatforming project.


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