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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.”


Zurich chief warns against providers investing in IFAs

Zurich IFA is warning rival providers against investing directly into IFA businesses, saying that giving IFAs more support services will be more productive. The company wants to see more gap-filling opportunities arise from the polarisation review. It says allowing a pro-vider to white-label gap-filled products under its own-name products would solve customer confusion. Zifa, which […]

Annuity friendly raises £16m to back expansion

Retirement specialist the Pension Annuity Friendly Society has raised £16m of new capital, which will help its expansion into new markets and broaden its retirement planning product range. Pafs hopes to increase its presence in the long-term care market as well as enter the inheritance tax planning arena in addition to making forays into overseas […]

Imla still in deadlock on platform

The Intermediary Mortgage Lenders&#39 Association has failed to break its deadlock over which mortgage trading platform it should join despite two rounds of negotiations. Imla chairman John Heron admitted this week that the association will not be joining either Mortgage Brain or IFonline in the near future after its members again failed to agree on […]

Close to zero

Close Fund Management has designed an index-tracking investment trust that is made up of zero-dividend shares. The Close UK index growth fund has a five-year term, during which it will track the performance of the FTSE 100 index. Its objective is to produce growth of around 41 per cent over five years by reflecting the […]

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A downhill stroll?

The Department for Work and Pensions (DWP) has recently published new research, which once again demonstrates how the prospect of retirement is changing for older workers.


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