Cofunds launches DFM service

sign letter form point writeCofunds has launched a DFM service, following demand from advisers.

The platform, owned by Legal & General, has trialled the new DFM service with a number of firms and is now rolling it out more widely.

Martin Wigginton, Cofunds’ head of proposition and product, says: “We’re committed to supporting intermediaries and their clients.

“Our new service allows end investors to have access to a high level of investment expertise, whilst advisers can remain confident their clients’ are receiving specialised investment support they require.”

Cofunds is currently thought to be up for sale by parent company L&G. In July 2015, it was revealed the Cofunds sale was likely to have sparked by a decision to replatform its technology to Bravura.

Cofunds is currently powered by IFDS and it is understood Bravura’s new Sonata system had been selected to replace IFDS, but the costs associated with the move prompted L&G to begin the sale process.