UK investment platform Cofunds has introduced a new discretionary fund management service to support advisors in offering a diverse range of services to their clients.
The investment platform, owned by Legal & General, said the new offering has been created in response to client demand and has already been piloted with a number of firms.
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Using this service, advisers can choose investment managers matched to their clients’ needs.
The service will allow the investment manager to access investor’s accounts on Cofunds and use various tools that help with maintaining, rebalancing and reallocating portfolios.
Cofunds will not charge any fee for advisors to avail the service but a standard platform fee will be charged to the investor and it is up to the intermediary and the DFM to decide on the fees they pay.
Cofunds head of proposition and product Martin Wigginton said: "We’re committed to supporting intermediaries and their clients.
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By GlobalData"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."
