Vestra Wealth has appointed Cofunds as its fund custodian in a deal which will see the wealth management partnership entrust over £600m in assets.
Under the terms of the deal, Cofunds' institutional service will provide specialist fund dealing, settlement and sub-custodian services to Vestra in an effort to simplifying the amount of in-house processing, reduce costs and improve reporting.
Cofunds' link up with Vestra Wealth - which currently manages in excess of £2.4bn of total assets - comes as the platform giant looks to ramp up its activities in the "enterprise space" covering stock brokers, life companies, banks and fund managers.
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