Cofunds has announced it will power moneysupermarket.com’s new execution-only service.
From today, moneysupermarket.com will provide the service for investment business, giving customers access to the Cofunds investment Isa and its range of over 1,500 funds.
Cofunds says it is not moving towards a direct to consumer service. It adds moneysupermarket.com will be solely responsible for the sales, marketing and promotion of the service and will not have access to Cofunds’ database of investors.
Cofunds sales and marketing director Alastair Conway (pictured) says: “We have built the platform to provide flexible, reliable and convenient administration and management services to a range of intermediaries and this is a great addition to our execution-only client base.
“We see more initiatives like this being developed by major consumer brands as the market evolves as a result of the RDR.”
Moneysupermarket.com head of banking Kevin Mountford says: “Working with Cofunds has allowed us to offer our customers a very simple way to compare and buy their stocks and shares Isa. They have access to more than 1,500 funds and we want to help them find the investment products that best suit their objectives and attitude to risk.”