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Cofunds axes annual fee after charging review

Cofunds has removed its £40 annual platform charge following a review of its unbundled pricing structure.

Money Marketing revealed last month the platform was reviewing its pricing structure following its acquisition by Legal & General.

The platform’s monthly investment charges, which range from 0.29 per cent for assets up to £100,000 to 0.15 per cent for assets over £1m, remain unchanged.

Cofunds adds it will reveal a number of other changes to its proposition going forward as a result of the review.

Commercial director Adam Smith says: “This is the first of many developments that will benefit our clients and their end investors.

“Having L&G behind us, we are able to play our part in helping to reduce the cost of investing in a sustainable way.”

L&G completed the acquisition of Cofunds in March.

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