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Cofunds Cash Account

This page is for Professional Financial Advisers only

The Cofunds Cash Account is designed to allow investors to hold money destined for investment on the Cofunds platform. It removes much of the back office administration associated with managing your clients' cash. The Cofunds Cash Account is also used to facilitate all charges and fees on the platform.

How do I open a Cofunds Cash Account for my clients?

All investors on Cofunds automatically get a Cofunds Cash Account when they first invest on the platform.

How can my client make sure there is enough money in their Cofunds Cash Account to pay for charges and fees?

The easiest way to do this is to ensure your client has enough money in their Cofunds Cash Account each month to cover the fees, charges and/or regular withdrawals. Money can be added to the Cofunds Cash Account via BACS or cheque.

For those circumstances where a client doesn't have enough money in their Cofunds Cash Account to pay for fees, charges and/or regular withdrawals, you're able to set up a Sale for Regular Payment instruction with your client. This will sell units from funds within their ISA and/or investment funds to pay for fees and charges as agreed by your client.

Alternatively, you can apply a 'Fund Sale Instruction' to a new segment, which can sell units from your client's commission free share class funds within their ISA and/or investment funds.

NOTE: If your client has a model portfolio, units will be sold as per the model portfolio process. How does the model portfolio sell down work?

What products can my clients invest in directly using monies held in the Cofunds Cash Account?

Your clients can invest directly in both ISAs and investment funds.

What is the minimum and maximum amount that can be held in a Cofunds Cash Account?

There is no minimum or maximum balance required.

Do my clients earn interest on monies held within the Cofunds Cash Account?

Yes. Cofunds will pay a rate of interest on monies held in the Cofunds Cash Account. View current Cofunds rates here. Interest is paid on the entire balance and will be paid net of tax unless instructed otherwise.

Is it possible for my clients to have more than one Cofunds Cash Account?

Yes. A Cofunds Cash Account can be opened for any unique combination of investors or designated investments.

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