Now is the time to get back office systems up to speed
Brett Williams, the former head of platforms Cofunds and Skandia, has launched a private equity firm with targets including financial services groups.
Cofunds has appointed Openwork CEO Martin Davis as chief executive.
Former Cofunds CEO Brett Williams says he is eyeing a move back into the industry, but may not necessarily re-enter the platform fold.
Charlie Eppinger, interim CEO of Cofunds, says ‘it is business as usual' at the platform and its development strategy is on course despite the departure of Brett Williams last month.
Allfunds' Holly Mackay says Brett Williams' shock departure has come at a crucial point in platforms' development.
The departure of Brett Williams, the very public face and driving force behind a revitalised Cofunds, has shocked the platform world.
Cofunds believes there is still time to influence the FSA and prevent a proposed ban on fund manager rebates and bundled charges as the regulator's response to the discussion paper is set to be delayed until September.
The FSA could be forced into a major U-turn on platform regulation as the UK's big three providers, with over 80% of total assets, labeled its proposals as "unworkable" in responses to the Discussion Paper.
Cofunds chief executive Brett Williams believes proposed changes to platform remuneration are likely to lead to increased costs and heightened adviser confusion.