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Assuresoft set to sign net deal with Cofunds

Assuresoft is close to signing a deal with Cofunds that will see its fund supermarket on the Assureweb portal.

The deal will see Cofunds&#39 trading platform go head to head with Skandia&#39s My MultiFundshop, which is already available on the platform alth-ough Assuresoft says the move is designed to give IFAs more choice and wants to keep both fund supermarkets on board.

The move follows a long courtship between the two organisations. Assuresoft parent Misys had considered a tie-up with Cofunds when looking at a fund platform last year. Before Assuresoft&#39s takeover by Misys it had also looked at a deal with Cofunds, signing preliminary agreement to work towards placing Cofunds on its portal. Industry sources say IFA portals have been approa-ched by fund supermarkets keen to secure IFA distribution.

Misys spokesman Paul Charles says: “This deal will give IFAs as much choice as possible. There are plenty of funds on the Cofunds site that IFAs can&#39t get on My MultiFundshop. Skandia has been very successful and we are keen to keep them on board.”

PMI Independent Financial Adviser director John Stewart says: “Anything that gives added choice has to be a good thing.”

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