Charles Stanley has appointed Cofunds as its fund custodian in a deal which will see £1.2bn of funds moved across to the platform's institutional arm.
Under the partnership, Cofunds will provide specialist fund dealing, settlement and sub-custodian services to the Charles Stanley Group in a move designed to simplify the stockbroker's in-house processing and improve administrative efficiency.
"We've long recognised the importance of the institutional market and have for many years been servicing clients of the calibre of Charles Stanley," said Cofunds director, institutional services, Christopher James.
"Our institutional offering provides an all-encompassing service meaning that we are able to reduce risk for Charles Stanley as well as increase processing efficiencies through our fully automated system."
The link-up with Charles Stanley is the latest in a recent spate of deals the platform has won in the institutional space, including tie-ups with Reyker Securities and Vestra Wealth.
An ambitious objective
'Something completely new'
'Illusion of control'
Reasons to be cheerful
Total investment reaches £9m