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How to deal online with Cofunds
Well over a thousand funds from numerous fund managers can currently be bought and sold through the Cofunds platform. A comprehensive list of fund managers can be accessed here or once youíre logged in to Cofunds. All deals are placed online directly on the Cofunds website.
To use Cofunds to deal in investments for your existing Suffolk Life pension, please visit our literature library to complete the Cofunds Election Form.
The SIPP cash balances are held in the planís main Suffolk Life bank account. In order to place deals online through the Cofunds platform, your client will need a Cofunds Trading Account from which purchases will be made for their Suffolk Life pension. If they are a new customer this will be done during the application process, provided your client has signed that they agree to the Cofunds Customer Agreement. If they are an existing customer, once registration has occurred and they have signed that they agree to the Cofunds Customer Agreement, simply contact us to open a Cofunds Trading Account for your client. You will be able to request the movement of monies between Suffolk Life and Cofunds online. Providing the cut off time has been met, the transfer will take 24 hours or less.
Standing Investment Instruction
On Cofunds you have the ability to set up a Standing Investment Instruction (SII) which is an effective way to automate a clientís investment choice. It is open to new and existing clients but the client has to be set up on Cofunds before the functionality is available. Your instruction remains in effect for future investments until you or your client advise otherwise.
Customer Agreed Remuneration (CAR) is available via Cofunds and the MasterSIPP and SmartSIPP can now be included as part of the overall calculation. Where an adviser currently takes fees directly from the main SIPP bank account here at Suffolk Life by means of invoicing, those arrangements will continue unaffected.
Your clients will be able to receive copy contract notes and valuations direct from Cofunds.
Back office integration
Cofunds has established relationships with all the major back office providers and has a full back office integration service. If you have any queries regarding your back office integration, please contact Cofunds. They will advise you on the best way to approach this depending on how you are using your system and what services you are using.