Retirement specialist LV= has today announced that access to investments via the Cofunds platform are now available through its SIPP, the Flexible Transitions Account (FTA).
Cofunds provides access to approximately 1500 funds from over 90 fund groups. IFAs with clients in LV='s FTA can now manage assets online via the Cofunds platform. Clients can benefit from no initial investment charge, with the ability to avoid switching charges[1]. The Cofunds platform is also available via LV='s simplified SIPP, ‘FTA Lite' which offers lower annual plan fees[2].
Ray Chinn, Head of Pensions at LV= said: "Cofunds is the largest independent platform in the UK. Providing access to it through our FTA gives IFAs even greater flexibility of fund choice, with a streamlined administration process. The fee discounts that LV= and Cofunds are able to offer as part of this deal also makes this proposition great value for clients who want a simple SIPP wrapper invested in collectives.
"This partnership also demonstrates the opportunity for more traditional product providers to work with platforms and wraps to build compelling propositions for the market. Clients using this new option will get the benefit of LV='s expertise in SIPP administration and pensions, alongside Cofunds' renowned expertise in the platform space."
Alastair Conway, Sales and Marketing Director at Cofunds said: "LV='s decision to link its SIPP to the Cofunds platform is a significant endorsement of our services. Advisers selling this innovative product will be able to use our award-winning website to enable them to offer a comprehensive and professional advice service to their clients. This development is another example of Cofunds using its multi-dimensional service to work closely with a leading strategic partner."
Cofunds administers more than £33 billion in assets - a quarter of the total UK platform market, and has been the leading platform in sales for each of the last nine quarters.
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