The core of the new Aegon-based platform has been finished - meaning the life company has hit a "substantial milestone" in its re-platforming efforts in the wake of its purchase of Cofunds.
The new platfom will be based on the firm's Aegon Retirement Choice (ARC) technology with "valuable" features of Cofunds' platform added on, Aegon said.
The company explained it would begin adding on these features, which include pre-funding of trades and debit card acceptance, now the foundations of the new platform have been completed.
Chief distribution and marketing officer Mark Till (pictured) said the process had so far gone "exceptionally well" and that he did not expect there to be any disruptions for advisers.
He added: "The firm has comprehensive plans to complete the project in a seamless manner. We absolutely believe we can communicate clearly and effectively, we know we've migrated data without any impact on advisers so far - so we believe we can do that - and we won't release the technology until it has been fully tested.
"We have a very well-structured, risk-managed plan and we would not be planning to do anything that would make the lives of advisers who use Cofunds and Aegon at all difficult."
On costs - an Achilles' heel for some platforms in recent months - Till said the project was due to stay within its £80m budget and maintained the firm's view it would not charge clients more under the new technology.
He said: "We haven't created a pricing approach for the new platform, but we have created a pricing principle. Neither Aegon nor Cofunds clients will see any charging increases when the new platform is launched."
Users of the two platforms are to remain on their respective platforms until the third, newly-created service has been fully completed.
Aegon recently met with its 30-adviser strong Advisory Board for the second time and said it would continue to be guided by its preferences. The firm remains on target to start migrating existing users to the new, ARC-based platform in the second half of 2017, but has not yet set a final launch date.
The long-anticipated acquisition of Cofunds was announced last July for a fee of £140m, which made Aegon the financial services industry's biggest platform. The deal was completed on 1 January.
'Aegon will face issues'
The lang cat founder and principal Mark Polson has previously said Aegon will face issues in its re-platforming project but praised the way it was going about its task.
"Re-platforming is always really difficult but I think there are a couple of things going in Aegon's favour here," he explained. "First, there is already a version of this platform in existence so they know the capabilities of it pretty well. The guy in charge, COO Richard Denning, is very experienced and there's a good team there. That's all going to help.
"The second thing is the Aegon team have quite a lot of experience of re-platforming from the group's own back book. They don't have the experience of moving tens of billions in the way that's going to happen from Cofunds - but nobody has that. Nobody's done it on this scale before."
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