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Dual-pricing offers extra flexibility to IFAs

Cofunds has introduced a dual pricing facility, giving IFAs the flexibility to offer different initial fund charges on Isa and Pep transfer business.

Cofunds says it is the first to offer the new functionality, giving IFAs the chance of individually negotiated fund discounts when switching on the Cofunds platform.

Cofunds has also announced that it is teaming up with IFA software provider First Software to provide electronic fund updates for its users. The move will speed up fund valuations on the platform.

Commenting on the dual pricing facility, Cofunds head of sales Rod Aldridge says: “Despite the enormous benefits of consolidation, transfer costs have hindered the process. With dual pricing, intermediaries can use Cofunds to consolidate clients&#39 portfolios with an extremely competitive cost of reinvestment.”

Commenting on the deal, Cofunds chief executive Sam Jensen says: “For years IFAs have been forced to keep track of client holdings by manual input. This process is exhausting, time-consuming, prone to errors and almost impossible to keep current.

“With First Software&#39s new functionality, Cofunds&#39 fund holdings will be downloadable with two clicks of a button. The data is current and, as of that day, accurate and complete.”

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