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

Aberdeen's Kenny: 'We are not just going to switch Elevate off'

Aberdeen's Kenny: 'We are not just going to switch Elevate off'

Admits adviser communication on Elevate has been lacking

Jenna Brown
clock 10 June 2025 • 4 min read
Schroders UK Platform Awards 2025: Entry closing date fast approaching!

Schroders UK Platform Awards 2025: Entry closing date fast approaching!

Shortlists will be published in early July

Professional Adviser
clock 05 June 2025 • 1 min read
Parmenion group operating profit rises to £17.5m in 2024

Parmenion group operating profit rises to £17.5m in 2024

Platform’s flows doubled during the 12 months to 31 December

Jenna Brown
clock 03 June 2025 • 2 min read