Almost a quarter of those using Cofunds only hold a single fund from a single provider. Of the 27,08...
Almost a quarter of those using Cofunds only hold a single fund from a single provider. Of the 27,084 portfolios on the platform as of 5 November, 6,462 or 24% fall into this camp.
Only 11% of investors with two or more funds in their portfolio have used just one provider, equating to 35% of investors investing with a single provider in total.
Investors with portfolios of between two and seven funds are most likely to have fund holdings from different providers, while those with eight or more are most likely to have at least two funds from one provider.
Rod Aldridge, head of sales at Cofunds, said the results were indicative of intermediaries advising their clients to spread their risk and take advantage of Pep and Isa transfers.
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