Cofunds cash focus heralds a move to full wrap status

supermarket's revamp is to accelerate wrap development, with a fee option imminent

Fund supermarket Cofunds is accelerating its development into a full-wrap proposition with the intention of paying advisers on a fee basis by year end. Believing cash to be vital to the wrap concept, the platform is upgrading its cash account, which was introduced in November last year. It is also adding pension products, offshore funds and an offshore bond and may offer discounted gift trusts and structured products in due course. Elsewhere, the platform is piloting a scheme, for roll-out in the third quarter, to allow client access to their portfolios. Anthony Wolfe, strategic develop...