You are here: AdviserArchive: March 2013

Archive: March 2013

This page is for Professional Financial Advisers only Latest from Cofunds - week commencing 18 March 2013

Cofunds starts new chapter under Legal & General

We're to be wholly owned by Legal & General, which is great news for us, our clients and our partners because it means we'll have the financial might of a FTSE 100 company behind us.

We know that any change in ownership, however positive the outcome, can give rise to questions. Read our blog and we'll try to answer them for you.

Email problem affecting some users

Yesterday, an email from a major network was inadvertently sent by a member of their staff to another organisations wide email distribution list, including our Business Support mailbox. This triggered our own standard auto-reply message back to the original distribution list which in turn picked-up a number of auto-reply messages from other organisations - unfortunately creating an email loop between the members of the list, including Cofunds. When our monitoring alerted us to this, we blocked our fuelling of the loop, but by then many thousands of emails had been circulating around the industry.

The end result is it may have looked like we were sending lots of spam, and our Business Support mailbox clogged-up with many thousands of erroneous emails caught up with actual emails from our clients.

We're very sorry if you were affected by this, or if we're taking time to deal with your actual email enquiry. We're working hard to respond to actual client emails, but your patience during this period is appreciated. Clearly this issue affected a number of companies across the industry, but we're reassured by our email provider that they'll do what they can to prevent our part in this from happening again.


IMPORTANT NOTICE: Updated disclosure

You've probably seen our communications regarding the changes we've made to our transfers off process for advised clients - allowing transfers without share class conversions. In step with these changes, we've updated Your Agreement with Cofunds, which sets out all the terms that apply to advisers/intermediaries.

The changes relate to the way we'll carry out the transfers off process (section 14 in Schedule 3). None of the changes made are detrimental to you or your clients; they're simply to bring our disclosure documents in line with the changes we've made to our processes.

The changes to this agreement are effective immediately - you can find the updated Your Agreement in the document centre.


Cofunds Live Budget webinar with Technical Connection - This Thursday

Don't miss out on Tony Wickenden and John Woolley delivering a technical review of what the budgetary changes mean for you and your clients at 11am on 21 March 2013 - make sure you don't miss out by accepting our calendar invitation.


Tax year end - Only 13 working days left

The end of the tax year is closing in fast - make sure you take full advantage of the opportunities for maximising your clients' ISA allowances. Our Tax Year End page has all the information you need, including an ISA Support pack, plus deadlines and details of our nationwide collection points.

Don't forget that from 6 April 2013 the ISA limit is increasing to £11,520.


Video: The Cofunds 2013 Roadmap

Cofunds Director of Marketing, Verona Smith, explains the developments we've in store this year including improved fee flexibility, the ability to rebalance model portfolios in bulk and an enhanced service for self-directed clients. Take a look at Verona's video to find out more on this year's developments.


An update to the Stock Transfer form

On 1 January 2013 the IMA issued an updated Stock Transfer Form that captures all the necessary information to ensure your instructions are processed in an efficient and timely manner. Since its issue, we no longer accept old-style forms - to access the new form and read the guidance notes, take a look at the IMA website.


Based in the Midlands? Check out the Investment Strategies Conference

With 5 top fund managers and internationally renowned financial adviser and broadcaster Alvin Hall as our keynote speaker, the Investment Strategies Conference promises to be a great way to spend a morning out of the office. The event is taking place on Wednesday 24 April at the Belfry, with coffee and bacon rolls from 9am - make sure you don't miss out and register your place.


Corporate actions

View details of recent and upcoming corporate actions.
Perspectives