LV= has slashed dealing times for fund switches in its Sipp wrapper through a link-up with Cofunds.
The mutual insurer has joined Cofunds’ Funds Inside proposition, which means the funds accessible through the platform will be available to investors in the Sipp wrapper. Using Cofunds as a funds engine will allow fund switching to be done instantaneously, a process that previously could have taken days, said Ray Chinn, LV= head of pensions and investment.
‘It will allow IFAs using our Sipp to do everything quicker,’ he said. ‘IFAs will want to use a platform, but for complex Sipp investments they will want to use a provider with greater experience.’
Chinn said LV= was looking at acquisitions and organic growth, and wanted to work closely with Cofunds.
‘Some of our competitors have been a bit slow in making the most of the platform link. Cofunds has exciting plans for its platform. Rather than spend time building our own platform, we can work with each other,’ he said.