Cofunds is working with the UK Platform Group and other third-party administrators to implement indu...
Cofunds is working with the UK Platform Group and other third-party administrators to implement industry-wide standards relating to transferring funds held within wrappers. The platform is adopting open standard transfers at a cost of £1m to simplify the way funds are moved from platform to platform. It hopes the problems surrounding moving portfolios within an Isa will be resolved by early 2008. Richard Eats, communications consultant for Cofunds, explained: “Platforms move data around in different forms and it is very difficult to automate it. The process can last up to eight to 10 we...
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