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Trio agree to allow cross-platform views

Cofunds, FundsNetwork and Seven Investment Management have agreed to let advisers view client portfolios held between the three platforms.

The trio say the move will better enable advisers to monitor client portfolios and keep track of asset allocation.

Cross-platform viewing will initially be available from 7IM in the first quarter next year and from Cofunds and FundsNetwork later in 2008.

Advisers using 7IM can already view holdings in Zurich’s sterling onshore bond and this will be extended to the rest of the sterling platform.

Chief executive Tom Sheridan says: “This additional connectivity will provide financial planners and wealth managers with more choice for their clients, adding more credibility to their independent positioning. Not only will a wider range of tax wrappers be available but also a broader selection of securities and services.

“It should lessen the need for platform-to-platform in specie transfers which will be welcomed by all market participants. All these advantages sit well with treating customers fairly.”

FundsNetwork executive director David Dalton-Brown says it will add 7IM funds on to its platform next month.

He says: “Building connectivity between 7IM’s technology and our own platform will then offer real benefits for our mutual adviser clients, offering them more flexibility in how they work with us both.”

Cofunds managing director Andy Creak says: “Different advisers want different things from a platform and our ambition is to offer a menu of options so we can support every type of firm.”


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