Aegon UK has already built the “foundation” of the platform which will replace Cofunds.
The core of the system will be based on the Aegon Retirement Choices platform but the company has promised to include the best of both services.
Aegon is working with an advisory board made up of 30 advice firms of various sizes to find out what they want from the new platform.
The advisers have expressed a desire to hold onto the pre-funding of trades and debit card acceptance which is available on the Cofunds platform while Aegon will bring access to a wider investment range, an integrated pension and a reduction in paper processes.
Mark Till, chief distribution and marketing officer at Aegon, said: “Since the completion of the deal we’ve had productive conversations with users of both the Cofunds and Aegon platforms which have helped us to prioritise our activity and shape our thinking.
“We know our success will ultimately depend on delivering on our plans and maintaining a regular dialogue with the platforms’ users.
“However, we believe that by putting intermediaries at the heart of this process and focusing on delivering the tools and service which help them to manage their business more effectively and profitability that together we’ll be successful.”
Aegon expects to be in a position to begin transferring Cofunds users to the upgraded platform towards the end of 2017.
Users of its own platform will follow and Aegon expects they will be moved across in the first half of 2018.
It has also moved to reassure advisers that client transaction history will be retained, clients will remain fully invested and there will be no change to logins.
damian.fantato@ft.com
