Assuresoft is close to signing a deal with Cofunds that will see its fund supermarket on the Assureweb portal.
The deal will see Cofunds' trading platform go head to head with Skandia's 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's 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't 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.”