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Cofunds sets up onshore bond and plans pension wrapper

Cofunds is offering an onshore bond and is lining up a pers-onal pension wrapper which is set to go live at A-Day.

The portfolio bond, set up in conjunction with major shareholder Legal & General, will offer IFAs and their clients a choice of around 200 funds from 40 providers. The bond is a single-premium life insurance wrapper and advisers can get quotes online along with key features documents and marketing material.

Cofunds says the bond marks a key stage in the platforms’ evolution from a fund supermarket to a full wrap service. L&G bought a 28 per cent stake in the firm last year and Cofunds has more than 6bn in assets under administration.

Marketing and product development director Mark Jones says: “With our new approach, the whole of a cli-ent’s assets – regardless of their tax wrapper – can be seen on a single screen. Now an adviser can use their time on asset allocation to meet a client’s needs and select funds effic-iently within the main tax wrappers.”

DK Wild & Co managing director Michael Wild says: “What is important for us is that everything can be accessed from one point, with no time was- ted on pieces of paper and more time on managing clients.”

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