Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/new-model-adviser/article/a700928
Cofunds reviews platform charging structure
by Jun Merrett on Sep 05, 2013 at 10:33
Cofunds is the latest platform to conduct a review of its charging structure and is set to announce changes in the next few weeks.
The platform is currently looking at its functionality and it’s pricing following its acquisition by L&G.
In March the life company paid £131 million in cash for the 75% of Cofunds it did not previously own, valuing the platform at £175 million.
Cofunds' current pricing structure is:
- £0- £100,000: 0.29%
- £101,000- £250,000: 0.26%
- £251,000- £500,000: 0.23%
- £500,001- £1 million: 0.20%
- £1 million +: 0.15%
The platform market has seen a downwards pricing trend over the past 12 months, kicked off by AXA Elevate in November 2012 who slashed their pricing by almost 50%.
News sponsored by:
Today's top headlines
Challenged by growing risk aversion?
Challenging financial markets over recent years have resulted in growing risk aversion among British savers and led many to seek safety in cash. Click here for more.
More about this article:
More from us
- Fidelity outlines RDR charging; Cofunds launches unbundled pricing
- L&G seals £131m deal to buy Cofunds
- AXA Elevate unveils revamped charging structure
- Nucleus cuts charges in platform pricing revamp
- 7IM opens up platform to rival DFMs and overhauls charging
- Transact reduces charges for sub-£300k portfolios
- Standard Life to review advisers' wrap discounts
by Michelle Abrego on Dec 11, 2013 at 14:51