Innovative integrated business
solutions
for intermediaries
Integration with Cofunds enables intermediaries to quickly and efficiently reduce administration and streamline their operational processes. This makes for more effective client management, helping to ensure intermediaries focus more of their time on delivering investment advice and servicing clients, rather than on administration.
Intermediaries who have integrated with Cofunds benefit from:
- Automatic client data updates using Cofunds management information files
- Daily updates of clients' portfolios and net positions
- Daily updates of clients' transaction histories
- Easy import of transaction history and portfolio valuations
- Data available for pre-populated application forms
- Access to trail commission files
- Monthly trail commission reconciliations.
Key relationships
Cofunds enjoys established relationships with all the major back office providers. Click here to learn more about Cofunds relationships with back office providers.
Dedicated implementation team
Cofunds dedicated implementation team ensures that intermediaries receive the advice and support required to fundamentally change the way that they do business.
Cofunds first began integrating with back office providers in June 2001. By today's standard this was a relatively simple integration of clients' plans and their holdings but provided intermediaries with access to real-time valuations.
This was a major step forward and helped to resolve a major administration problem - the time consuming burden of collating valuations for clients across a number of different fund managers. A 2004 survey carried out by 1st Software indicated intermediaries were spending 10 hours a week obtaining valuations, today with this level of integration, valuations for clients portfolios are available with a click of a button.
At the forefront of industry change
Over the last four years the investment market has changed significantly with platforms becoming increasingly central and the need for effective back office integration vital for most intermediary businesses.
It is no surprise that whilst Cofunds has been expanding its platform proposition, the ongoing strategy of assisting intermediaries with consolidation and back office integration has been a key part of our approach. Cofunds, puts considerable emphasis and investment into providing intermediaries with timely and in-depth data and information.
In fact over 150 intermediary firms take data from Cofunds on a daily basis.
The demand from Intermediaries to continually enhance the service they offer their clients has been the driver for Cofunds to seek innovative and more effective solutions. This, for example, led to Cofunds working closely with 1st Software to bring intermediaries detailed transaction histories. The integration of transactions from the Cofunds platform into Adviser Office has brought a number of benefits to intermediaries including the ability to provide regular detailed statement of transactions, income reporting and CGT reporting.
Reconciliation of trail commission
The administration burden of reconciling trail commission when dealing with fund managers, each of who have different qualifying periods and payment methods are all too familiar.
One of the key benefits of Cofunds proposition is the consolidation of trail commission which within the past five years has resulted in considerable benefits for Intermediaries, both in terms of streamlined administration and increased revenue.
To further enhance the servicing to intermediaries, Cofunds has been working on the launch of their e-commissions module. This module will import trail commission from Cofunds on a monthly basis resulting in automatic allocation of trail against clients and their portfolios.
This gives the added benefit of accurately and effectively assessing the future long term profitability of intermediaries' clients.
Cofunds approach
Cofunds desire to remove the significant paper trail still in place for trading, administration and servicing is driving development and has already seen significant progress including:
- 75% of Cofunds bond quotes are conducted online
- 50% of switch instructions are received electronically
- 10,000 customer statements are downloaded from the Cofunds website.
We continue to work closely with key intermediary firms and back office providers to develop new functionality and to continue to streamline the investment industry.
Learn more
Contact us now if you would like more information on how Cofunds can help and support your business to take advantage of back office integration and technological innovation.
The integration of data and information into intermediaries' back office systems is crucial to the success of today’s financial adviser.