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Ex-Cofunds director sets up consumer platform

Former Cofunds business development director Andy Creak has launched a new consumer- facing platform, rplan.

In March 2010, Money Marketing revealed that Creak was setting up the new venture following his departure from Cofunds in late 2009.

The rplan platform enables customers to put together an investment plan and offers a rebate of at least 50 per cent of the ongoing commission paid.

The website also contains free tools and value performance trackers, as well as the ability to interact with other investors.

Creak says: “On rplan, consumers can work out what their target pot needs to be, can pick funds knowing what the charges and performance ratings are, can quickly check them in the months ahead to see if they are on plan and can speak with like-minded people and swap notes to see if they are missing a trick.”

Chelsea Financial Services managing director Darius McDermott says there are already similar offerings in the market but adds: “The rebate will be a big hook for new clients.

“People who are financially literate might be able to put their own investment plan together using this kind of tool but many will still have to rely on advice.”



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