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...
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