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AWD opts for Cofunds

National IFA AWD Chase de Vere has appointed Cofunds as its main platform provider for mass-affluent clients.

The firm says the move comes after nine months of due diligence and will see the firm’s “enhanced segment” of clients with investable assets of between £50,000 and £375,000 supported by Cofunds. AWD already has over £1bn in assets with the platform.

AWD continues due diligence for appropriate platforms to service its primary and premier client segments, with a decision due in the next few
months. Clients with assets of less than £50,000 fall into its primary segment while clients with over £375,000 are in its premier segment.

Jacksons Financial Services managing director Pete Matthew says: “This seems like a sensible move as long as the correct due diligence has been carried out.”


End of Stamp Duty holiday sees mutual lending rocket in March

Gross mortgage lending by mutuals rocketed 40 per cent in Q1 2012 compared to last year as first time-buyers took advantage of the stamp duty holiday, Building Societies Association data shows. Ending on March 24 the rise in Stamp Duty on homes worth up to £250,000 saw of rush of first-timers in the sector. There […]


PosSol compliance director quits

Positive Solutions risk and compliance director James McCourt is leaving the firm. McCourt has been with PosSol since September 2010 but is leaving to take up a senior regulatory position with a product provider. He has previously held senior positions as head of regulatory compliance at Royal Bank of Scotland and as risk director at […]

Platforms fear advisers don’t have portfolio permissions

The platform industry has raised concerns over some advisers using model portfolios through platforms without the correct regulatory permissions or a contract between the client and the discretionary fund manager. In April, the FSA published guidance consultation on assessing suitability for replacement business and centralised investment propositions. The regulator says it found evidence that some […]


FSA backs Which? campaign against claims firms

The FSA is backing the Which? and campaign against claims firms. The consumer organisations have launched a marketing campaign against unscrupulous claims firms that charge consumers a fee without telling them there is a free alternative. Speaking to the Chartered Institute of Bankers today, FCA chief executive designate Martin Wheatley threw his weight behind […]


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