Cofunds eyes execution-only space as profits hit £20m

clock

Cofunds has unveiled plans to significantly ramp-up its execution-only business on the back of a healthy set of financials which saw it post profits of £20m for 2010.

The platform finished the year with post-tax profits of £20.2m, up from £2.3m in 2009, whilst assets under administration (AUM) surged 33.5% to hit the £30bn milestone. In line with the AUM increase, income increased from £45.2m to £61.3m. With profit before tax climbing from £0.1m in 2009 to £7.9m, outgoing CEO Charlie Eppinger (pictured) declared 2010 had been a "terrific year". Setting out a multiple-distribution strategy for 2011, sales and marketing direct Alastair Conway unveiled plans to significantly expand its footprint in the execution-only market - something he dubbed th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

FNZ launches adviser-focused AI tool as personalisation demand grows

FNZ launches adviser-focused AI tool as personalisation demand grows

Generative AI solution intended to cut admin time and help advisers meet Consumer Duty standards

Sahar Nazir
clock 19 August 2025 • 2 min read
Scottish Widows' Bold predicts adviser 'flight to trusted quality' in fragmented platform market

Scottish Widows' Bold predicts adviser 'flight to trusted quality' in fragmented platform market

‘There will be potential platform consolidation’

Jenna Brown
clock 18 August 2025 • 6 min read
Aviva platform net flows climb 28%

Aviva platform net flows climb 28%

Driven by higher adviser client retention and expanding direct wealth channel

Sahar Nazir
clock 14 August 2025 • 2 min read