Aegon sends Cofunds re-platforming apology to clients

Aegon completed the re-platforming of Cofunds users onto its new ARC-based platform on 8 May, and Professional Adviser has since revealed Cofunds users have struggled with transactions and payments, while some advisers also reported delays with the platform's contact centre.

One adviser told PA they had lost clients over the issues they have faced with the platform.

The letter, seen by Professional Adviser, was sent to "the customers of the Aegon platform" and signed by Aegon Digital Solutions managing director Mark Till. It said: "The upgrade has had no impact on your account records or your products and investments, but our service levels to you and your intermediary have fallen below the standards that we know you expect. 

"I would like to offer you a sincere apology if you've experienced a technical problem such as not being able to log in to our website, are waiting for us to process your paperwork, have spent long periods on the telephone to us, or haven't yet received a response to an email."

It added: "This isn't the fault of your intermediary, but is our problem and one we're determined to resolve."

The letter goes onto say Aegon is "fully focused" on ensuring it improves service levels and delivers improvements, while promising to add new phone lines, increase the size of its administration team and improve the training of its teams.

It also vowed to make sure clients have not been financially disadvantaged by a "processing delay" if fund prices have risen.

It concluded: "This isn't the introduction to the Aegon Platform I had planned, but we're determined to prove to you and your intermediary that you can have confidence in our service and that we'll provide a more positive experience in the future."

Aegon also said it had written to all advisers to offer its "sincere apologies".

Aegon/Cofunds Timeline 11 August 2016 - Aegon buys Cofunds from L&G for £140m 3 January 2017 - Aegon reveals plans for the platforms as Cofunds deal completes 30 March 2017 - Foundations of new Aegon platform created, Aegon reveals 11 October 2017 - Aegon says it will "gradually withdraw" Cofunds branding 9 January 2018 - Aegon says it has successfully shifted more than 79,000 non-advised Cofunds customers to new platform 21 March 2018 - Aegon tells Professional Adviser it has taken "necessary steps" to shift Cofunds clients with confidence 19 April 2018 - Professional Adviser reveals the new platform is designed to feel "clean and simple" to use 8 May 2018 - Aegon finishes migration of all Cofunds users to new ARC-based platform 9 May 2018 - Cofunds users forgetting their passwords causes call-centre delays, Aegon tells Professional Adviser 1 June 2018 - Professional Adviser reveals Cofunds users are struggling with transactions and income payments 7 June 2018 - An adviser tells Professional Adviser they have lost clients over issues with new Aegon platform 18 June 2018 - Aegon apologies to Cofunds clients for not meeting the standards expected of it

 

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• Topics
• Wrap/platforms
• Aegon
• Cofunds
• re-platforming