You are here: AdviserArchive: January 2010

Archive: January 2010

This page is for Professional Financial Advisers only Latest from Cofunds - week commencing 25 January 2010

A collectives-only pension provides a cost effective solution for clients

If this rings true with some of your clients, there is good news! We are bringing an excellent value, collectives-only pension onto the platform very soon.

The Cofunds Pension Account, provided by Suffolk Life, will be a cost effective, easy to use, online pension offering investment into the full range of collectives on Cofunds. It will be integrated into the range of tools on Cofunds, with the flexibility to upgrade to a full SIPP (The Suffolk Life MasterSIPP) should your clients require a wider range of investment vehicles in their pension.

And, if all that wasn't enough, the Cofunds Pension Account will also boast clear and transparent fees, and be a great option for pension consolidation onto the Cofunds platform.

Improved key features documents get a new home

Our improved document centre, with enhanced navigation, will enable you to find the documents you need quickly and easily. In addition, we will be making changes to our disclosure literature, including the key features documentation. These changes serve to make it clearer, more straightforward and more client-friendly.

Q. What changes are we making?

A. Two disclosure documents will replace the current Key Features of the Cofunds Platform document. These new documents will apply to the Cofunds Pension Account – to be launched shortly, ISA and Investment Funds.

We are introducing a new-look document centre, which will be the single repository for all literature accessed on the Cofunds website – although links to documents will still exist across the web where you would expect to find them.

We have also enhanced our online trading screens making sure literature and key information is brought to your attention at the appropriate stage in the process.

Q. Why are we doing this?

A. We want to make absolutely sure that we are treating our end-clients fairly, in line with the FCA principal of TCF, especially concerning our pre-sale regulatory and contractual documentation.

So, we have evaluated our approach to key features documents (“KFDs”) and are making the content more easily digestible for your clients, and have made the process of accessing documentation more manageable for you.

Q. Will the documents be radically different?

A. Each of the revised documents will contain a core section, called Your guide to investing with Cofunds, which all investors will receive, and a specific section which will depend on which product(s) the client chooses to invest in.

Your guide to investing with Cofunds is more than just an introductory document. It will supplement any key features document referring to the Cofunds platform by giving the client a whistle-stop tour of how the platform works outlining the many benefits of using it, and showcasing the wide investment choice available. It also walks the client through how we are paid for our services and where charges will apply to them.

The content will remain largely the same but revisions to the style and presentation of the documents will clarify initial disclosure, making it easier to understand for the audience. This includes:

  • Improved readability
  • Clearer layout with key points highlighted
  • Friendly, open tone
  • Diagrams and images  supplement explanations
  • Documents are easily signposted so information is easy to find
  • New icons for simplicity.

Q. Do I have to order new printed documents?

A. No, as there are no fundamental changes to the content, you can use up your current stock.

Q. How do I order printed documents when I need to?

A. This process hasn’t changed.

Q. When are we making these changes?

A. These changes will be implemented from February 2010.

Important changes to the Intermediary Agreement

We are changing the Intermediary Agreement to make it easier for you to set up your remuneration options (fees) at platform or product level.

From 8 February 2010, we are removing the need for additional paperwork (the Fee Addendum) to be submitted before you can take fees. There will be no need for you to sign a new agreement; this change will simply give you greater options which you are under no obligation to take up.

Less than 10 weeks to tax year end. Are you prepared?

Use the power of our MI tool to help you prepare for tax year end.

Have your say in our customer service survey

As part of our 2010 programme to improve our customer service we are running a survey through our contact centre throughout February. Please use this opportunity to have your say and help us improve what we do for you.

You can join in the survey by simply calling us on 0345 604 4001, where you can choose to take part by phone or by email - neither will take up more than a few minutes of your time. As we hope we have shown you over the past year, your feedback, along with wider market research, really helps us to plan our developments and activity to ensure we are giving you what you need. Once the survey is completed we will share our findings with you.

Russell Investments now live on Cofunds

Russell Investments are very large in the US with a range of multi-manager funds and they are now launching their funds into the UK retail market via Cofunds.

Check out the latest PLATFORM microsite

We have a great new collection of thought provoking articles from fund groups and independent commentators on our spring microsite.

Corporate actions

View details of recent and upcoming corporate actions