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

Why advisory businesses need to question their platforms' operational resilience

Why advisory businesses need to question their platforms' operational resilience

'If you're a financial advice firm, client trust is your most valuable asset'

Martin Jennings
clock 30 April 2026 • 4 min read
Vanguard UK Platform Awards – Adviser voting now open

Vanguard UK Platform Awards – Adviser voting now open

Across several categories

Clive Waller
clock 29 April 2026 • 1 min read
What golf's distance problem can tell us about the future of platforms

What golf's distance problem can tell us about the future of platforms

'We can't hope to fulfil our potential by standing still'

Steve Andrews
clock 22 April 2026 • 4 min read