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There are 5 comments at the moment, we would love to hear your opinion too.

  1. This is a great match.

    Two companies with dreadful customer support that I wouldn’t dream of recommending again become one.

    Now even easier to avoid.

  2. RegulatorSaurusRex 26th March 2013 at 9:04 am

    Reminds me of Skandia, built upon the goodwill of IFAs who received nothing in return.

    They really should move the funds elsewhere.

  3. I am with Soren on this one. Not used either of them in many many years and as she says- now even easier to avoid. Will be interesting to see which of the platforms is first to publish they have taken £x bizillion away from Cofunds post takeover?

  4. Is it really that bad guys?
    I have found Cofunds easy to deal with over the years. In saying that I have just placed business with Parmenion and their system is just soooo good. IFA friendly and easy to use.
    I will see how Cofunds service levels develope over the next 6 months before jumping ship

  5. This values the whole Shebang at £174million – absolute peanuts. Their website states that they currently have £48 billion under management. Presumably they mean a US Billion – £1,000 million, therefore the price equates to 0.3625% of funds under management. Platform charges range between 0.29% to 0.15% (plus a £40 p.a flat fee). So at best this only represents a couple of years income. Draw your own conclusions.

    As to L&G – well the best we can hope is that they keep their hands well away. Their general service and administration standards set the benchmark for rubbish. Cofunds have an excellent website with very good facilities, but surely I’m not the only one to notice how their hitherto good service has dropped off a cliff.

    Moreover their funds under management remuneration proposition for advisers (in common with most other platforms – except Skandia) really is a complete nonsense and I detect a bit of a panic by them trying somewhat belatedly (but welcome none the less) to alter it.

    One wonders how long before L&G force their own products even more onto the platform. Currently whatever they have on the platform (such as their bonds & pensions) I avoid like the plague.

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