Rival bemoans 'outrageous' Cofunds two-month switching time

'Data process usually takes 5-10 days'

Tom Ellis
clock • 2 min read

A rival platform to Aegon has bemoaned the 45-plus working day timeframe it takes for customers to switch from the old Cofunds platform as a result of inefficient data feeds.

The platform, which requested it remain anonymous, said the trading file feed it receives from Aegon had "completely changed" since Cofunds re-platformed to The Aegon Platform and is "not as clear-cut as it used to be" back when it was the Cofunds offering. The platform said the industry standard for chasing contract notes and unit transaction histories for incoming clients was usually between five and 10 days, which one platform expert described as "generous at best". They also called the 45-plus working day turnaround time for this kind of data, which is more than two months in real mo...

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