Investments  

Cofunds launches pricing transition tool

Cofunds launches pricing transition tool

Cofunds has launched an online tool which director of distribution Andy Coleman has claimed will help advisers to convert their clients to clean share classes.

He said: “This whole process can be viewed as an opportunity – enabling advisers to reconnect with clients, reignite relationships and discover what it is these investors now need. Our web-based services support them to ensure they stay ahead of the April 2016 deadline.”

There are two tools: the bulk segmentation and bulk conversion services.

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Mr Coleman said the bulk segmentation tool would help advisers manage their client transition at a time suitable to them and multiple clients at once, based on their agreed ongoing service charge, into appropriate segments, allowing remuneration to continue after the sunset clause deadline.

The bulk conversion tool will allow advisers to convert numerous clients’ holdings into their equivalent commission-free share class funds.

Once advisers have agreed a service and charging model with their clients, the final administration step would be to convert their commission-paying share classes.

Adviser view

Iain Murray, financial adviser at Dorset-based True Potential Wealth Management, said: “The transition process is arduous, so anything which makes life easier and gives the best outcome for clients is good. If advisers look after clients it should not be a big task, but from an industry perspective, the process seems to be very slow for something also which will affect a lot of people.”