View more on these topics

Single minded

We have always been committed to keeping up to date with the changes in this complex and fast moving market and using new technology to make life easier for our clients. We began using Cofunds in 2002 when it was just starting to get established.

We work principally with corporate clients to educate and help their workforce, establishing pension plans, setting up and communicating flexible benefits, as well as advising on employee benefits but the end-user is often the individual.

It is imperative that any advice is truly independent as we only charge on a fee basis. There are 20 employees at Clarity and five are RIs. All our advisers are professionally qualified in investment and tax planning. We only employ the highest calibre of consultant.

We have £250m under management and £175m of this is on Cofunds. We have used other providers but Cofunds offers a good value proposition for clients and good levels of service for us. We believe that we can best use the administration benefits of this new technology if we focus as much as possible on a single platform although client needs come first and there are instances where we use another platform if some specialist feature is required. We are independent so must always look for alternative services for our clients.

That said, Cofunds is particularly suitable for us because we aim to have a tightly managed business and make great use of its management information systems. Its management information is very detailed and up to date and can be interrogated very flexibly. This helps us with oversight on our client’s portfolios, the understanding of our business dynamics and even with compliance as we have client records in good order and always available online and can demonstrate best execution on fund orders.

Using one provider as much as possible makes trail reconciliation much more straightforward and allows us to account accurately to our clients. Cofunds provides clear and open architecture, so we have been able to add a great deal of online functionality to our website for clients. Thanks to the direct overnight feed of data, clients can now interrogate our website for consolidated valuations showing all Cofunds’ data, as well as any funds held on other platforms.

We use Cofunds’ Isas and Peps and are also using the Legal & General portfolio plus Sipp where appropriate.

The other feature we value with Cofunds is that communication is good, both with its service team and with the senior management. As we are long-standing and substantial customers, they come to see us to discuss developments to get our take on what they are planning.

If I have one gripe, it is that projects seem to take longer than I would ideally wish to come on stream but this is probably a commercial reality across all platforms.

I very much like what I have heard about its new CGT tool and it cannot come a day too early. I suppose, to be fair, it could not do much until the Chancellor had decided what he was doing – assuming he has.

Angus Young is chief executive at Clarity

Recommended

Range rovers drive returns at New Star

New Star’s multi-manager team are attributing the outperformance of their active portfolio to its ability to invest in a range of asset classes and markets while measuring downside risk in every position it takes.

Inflation increases to 2.2 per cent in January

CPI annual inflation increased to 2.2 per cent in January, up from 2.1 per cent in December.The Office of National Statistics says the largest upward pressures came from a 1.3p increase in the average price of petrol and food prices which fell by less than last year.Liberal Democrat shadow chancellor Vince Cable says the figures […]

Standard Life transfers £6.7bn annuity liabilities to Canada Life International Re

Standard Life has reinsured £6.7bn of UK immediate annuity liabilities to Canada Life International Re. The back book primarily consists of existing Standard Life pensions customers who, on retirement, took out an annuity product with the life office.Standard Life conducted a comprehensive review of the options to manage longevity exposure within its annuity book.The review […]

Principal adds offshore funds to Vantage

Principal Global Investors has added its Dublin-based funds to Vantage, Hargreaves Lansdown’s funds platform. The asset manager, with $244.9bn under management, will add its global equity, European equity, Asian equity, emerging markets equity, Japanese and US equity funds to the platform in a bid to introduce UK retail investors the opportunity to gain access to […]

Planning now for the residence nil-rate band

Graeme Robb, senior technical manager at Prudential, writes about the residence nil-rate band and the advice opportunities it presents for you when tax year-end planning with your clients. On our Planning Matters hub, we considered a widow, Margaret, and a married couple, John and Anne, for whom the residence nil-rate band (RNRB) is influencing planning […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com