Adviser has 'lost clients' over Cofunds re-platforming issues

'The whole system is actually unmanageable'

clock • 4 min read

A financial adviser has told PA his firm has lost clients as a result of issues experienced with the Cofunds re-platforming move.

The adviser, who wished to remain anonymous, said he has about £100m of assets under advice invested through the platform. "They promised this new system - unfortunately it's gone drastically wrong," he said. "I've had to cancel meetings. I've had clients leave me, I've had clients complain and I can't trade [on the platform]. The whole system is actually unmanageable." Aegon completed the re-platforming of Cofunds users onto its new ARC-based platform on 8 May after undertaking the migration over the first bank holiday of the month. Last week Professional Adviser revealed Cofunds use...

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

Advised platform AUM tops £711bn in Q3 with new business hitting 'all-time highs'

Advised platform AUM tops £711bn in Q3 with new business hitting 'all-time highs'

Headed towards a ‘record-breaking year’

Jenna Brown
clock 06 November 2025 • 2 min read
Embark 'working to resolve delays' after advisers flag transfer backlogs

Embark 'working to resolve delays' after advisers flag transfer backlogs

One client was unable to complete £400,000 pension transfer for over two months

Sahar Nazir
clock 03 November 2025 • 3 min read
Platform innovation: Terry Huddart on 7IM's Online Reporting

Platform innovation: Terry Huddart on 7IM's Online Reporting

'It's a fundamental upgrade to the client area of the platform'

Terry Huddart
clock 24 October 2025 • 6 min read