Aegon has claimed its new platform 'is working' despite many IFAs complaining of problems activating their accounts and other glitches.
The migration of 400,000 Cofunds accounts to a new Aegon platform, which completed over the May bank holiday weekend, has left some advisers unable to log onto accounts and struggling to see fund valuations.
IFAs turned to Twitter yesterday to express their frustration with the issues and are also complaining of long wait times on the phone to Aegon trying to get help. Advisers also took to the New Model Adviser® website to say they were having difficulties logging in.
An Aegon spokesman admitted certain IFAs were experiencing ‘longer waits’ on the phone to activate their new Aegon Platform accounts, but insisted the average call length was less than a minute.
However, he claimed trades and client records are functioning properly on the new platform, once advisers were able to log in.
‘We’re encouraged that more than 15,000 users have activated their accounts and are accessing records and trading but are actively managing issues advisers have flagged to us.
'The new system is working, trades are being placed and client records are present. Our contact centres have been busy over the last two weeks as advisers have been ringing in to activate their accounts,’ the Aegon spokesman said.
Aegon said it is also adding new phone lines to help with volume of calls from IFAs.
‘While some advisers may have experienced longer waits, we answered over 99% of the 1,342 activation calls yesterday and the average waiting time was less than a minute. We’re committed to bringing this down further and have added extra lines to improve advisers’ experience.’
The spokesman added Aegon is going to be upgrading the platform further this weekend.
‘We will be investing substantially in the platform with further upgrades being released, with the next group this weekend and advisers can expect to see processes and functionality improving regularly,’ he said.