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Cofunds to offer adviser charging from Sipp wrapper

Cofunds has changed its Sipp account to allow adviser and platform charges to be paid from cash held in the pension wrapper rather than the platform cash account.

The change means Sipp clients with unbundled portfolios can now pay fees from the trading account, a short-term cash facility within the Sipp wrapper. 

Cofunds says the move is designed to offer tax efficiencies as fees are effectively subsidised by tax relief paid on entry.

Cofunds head of marketing Stephen Wynne-Jones says: “As one of the biggest platform providers, we are committed to supporting both advisers and their clients, and these new improved funding solutions provide more flexibility and choice when it comes to paying adviser fees.”

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