Cogent, the fund management administrator, is to allow its fund management clients to provide in-dep...
Cogent, the fund management administrator, is to allow its fund management clients to provide in-depth fund information on their own branded websites.
Anthony Wolfe, director of client services and marketing at Cogent said: "The key difference is that the service will be offered via the client's own website with their own branding. We did research that showed 85% of customer enquiries were on fund value or to find out what happened to their dividend."
The service will let providers offer immediate access to account valuations for investors or IFAs and users will also be able to transact, switch funds and withdraw monies.
It also provides administrative services, like changing direct debit instructions and informing of change of address.
Wolfe said the service would be offered directly to investment managers and it was up to them to decide on an IFA or direct consumer focus on the service.
Users of the group's administration service include fund management companies such as Hendersons, Foreign & Colonial, Aberdeen, Prudential and Edinburgh Fund Managers. Cogent's service will be different from EMX, the platform designed by Autif members exclusively for communication between IFAs and providers.
Wolfe said: "We are aware of what EMX is doing but that is more of an order system and we will keep communicating with them over how best to compliment their service."
Cogent's investment operations and outsourcing handles in excess of £109bn on behalf of more than 60 clients in the UK and Europe.
Its client base includes investment banks, insurance companies and fund management groups.
'Global ETF research centre'
Four new members
RDR the catalyst for DFM growth
Some passive fees reduced by 50%