Cofunds rolls out client segmentation plans

A letter sent yesterday said IFAs would be required to segment clients based on the initial fee and the level of trail - which advisers say could lead to a "worrying" administrative burden. Sam Caunt, partner at Kingston PTM, said the approaches adopted by different platforms were "complicated and confusing." "We can have a default segmentation, but it's all very messy," he said. "When we agree a fee with a client and put the money on Cofunds, some of the money actually comes from other investments. We offset whatever's been agreed under adviser charging against the renewal of othe...