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Topics: Cofunds| Barclays Bank| stockbroking| RDR| fund platform
Cofunds has appointed Barclays Stockbrokers as exclusive provider of its new stock trading service.
The Cofunds Stock Trading Service, currently being piloted with ten accounts, provides advisers with online access to Barclays Stockbrokers via the Cofunds website.
Under the tie-up, advisers will be able to access multiple asset classes such as stocks, bonds, ETFs and investment trusts and trade these on behalf of clients.
The service allows advisers to transfer money from the Cofunds cash account to Barclays Stockbrokers and vice versa. Money can also be transferred directly by the client via bank transfer, debit card or direct debit.
"When we launched our RDR roadmap in September last year we said we would pilot a stock trading service, and true to our word we have done just that," said Cofunds sales & marketing director Alastair Conway (pictured).
"With advisers wanting to consolidate their client's holdings on a single platform, this new service will offer greater investment choice."
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A wunch of bankers.
A great concept but is it the right partner? It is no coincidence that a common epithet is “A Barclays Banker”. With the huge amount of share trading platforms from which to choose – why them? There are unbranded dealers from which to choose which I suggest would have sat more comfortably with the Cofunds proposition. Linking with branded providers is a long way from ideal – witness the tie up with L&G. I wonder how successful that has been? Apart from anything else is it wise to align yourself with a well known bank in the current environment?
Posted by: Harry Katz