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Cofunds appoints distribution chief

Cofunds’ new managing director of distribution, Mark Campbell, says he is confident that platforms have huge potential in the adviser market.

Campbell, who will be responsible for marketing, sales and product development strategy, joins from JP Morgan Fleming where he was managing director of sales. Previously, he was UK sales director at Fidelity.

He says he is joining Cofunds at a crucial time, with assets under administration breaking through the 4bn mark and Legal & General recently paying 18.6m for a 25 per cent stake.

Campbell says Cofunds’ development of life and pension products will be a massive step forward for the company.

He estimates that UK advisers spend over half their time and costs on administration while in the US, where platforms dominate the market, admin accounts for less than a quarter of advisers’ resources.

Campbell says: “I am convinced that platforms will come to underpin most advisers’ business, whether they are independent, multi-tied or single-tied. This huge potential is the reason I have decided to join Cofunds to help lead its future development.”

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